StockNews.com Initiates Coverage on TRX Gold (NYSE:TRX)

Research analysts at StockNews.com assumed coverage on shares of TRX Gold (NYSE:TRX) in a report released on Tuesday. The firm set a “hold” rating on the stock.

Separately, HC Wainwright restated a “buy” rating and set a $1.50 target price (up previously from $1.40) on shares of TRX Gold in a research report on Tuesday, December 3rd.

TRX Gold Stock Performance

TRX stock opened at $0.32 on Tuesday. The business’s fifty day moving average price is $0.34 and its two-hundred day moving average price is $0.38. TRX Gold has a fifty-two week low of $0.29 and a fifty-two week high of $0.49. The company has a current ratio of 0.84, a quick ratio of 0.54 and a debt-to-equity ratio of 0.01.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. HighTower Advisors LLC lifted its position in TRX Gold by 9.6% during the third quarter. HighTower Advisors LLC now owns 334,456 shares of the company’s stock worth $130,000 after purchasing an additional 29,416 shares during the period. Ground Swell Capital LLC raised its position in shares of TRX Gold by 201.9% in the 3rd quarter. Ground Swell Capital LLC now owns 72,823 shares of the company’s stock valued at $29,000 after buying an additional 48,705 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of TRX Gold during the 3rd quarter worth approximately $52,000. Institutional investors own 1.06% of the company’s stock.

TRX Gold Company Profile

TRX Gold Corporation engages in the exploration, development, and production of mineral property interests in the United Republic of Tanzania. The company primarily explores for gold deposits. It holds interests in the Buckreef gold project that comprises a single Special Mining License covering an area of 16.04 square kilometers and 12 Prospecting Licenses covering 98.19 square kilometers located in north-central Tanzania.