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

StockNews.com began coverage on shares of TRX Gold (NYSE:TRX) in a research note published on Saturday. The firm issued a hold rating on the stock.

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

TRX Gold Trading Down 2.7 %

Shares of NYSE TRX opened at $0.30 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.54 and a current ratio of 0.84. TRX Gold has a 52 week low of $0.29 and a 52 week high of $0.49. The business has a 50-day simple moving average of $0.37 and a two-hundred day simple moving average of $0.39.

Institutional Investors Weigh In On TRX Gold

Several large investors have recently added to or reduced their stakes in TRX. Virtu Financial LLC purchased a new stake in shares of TRX Gold in the 3rd quarter valued at about $52,000. Ground Swell Capital LLC increased its position in shares of TRX Gold by 201.9% in the third quarter. Ground Swell Capital LLC now owns 72,823 shares of the company’s stock worth $29,000 after purchasing an additional 48,705 shares during the last quarter. Finally, HighTower Advisors LLC raised its stake in TRX Gold by 9.6% in the third quarter. HighTower Advisors LLC now owns 334,456 shares of the company’s stock valued at $130,000 after purchasing an additional 29,416 shares in the last quarter. Institutional investors own 1.06% of the company’s stock.

About TRX Gold

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.