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

StockNews.com initiated coverage on shares of TRX Gold (NYSE:TRX) in a report issued on Wednesday. The firm set a “hold” rating on the stock.

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

TRX Gold Trading Down 3.2 %

Shares of NYSE:TRX opened at $0.31 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.83 and a quick ratio of 0.51. TRX Gold has a one year low of $0.29 and a one year high of $0.49. The firm has a 50 day simple moving average of $0.33 and a 200 day simple moving average of $0.38.

Institutional Investors Weigh In On TRX Gold

Large investors have recently modified their holdings of the company. Ground Swell Capital LLC increased its position in shares of TRX Gold by 201.9% during the third quarter. Ground Swell Capital LLC now owns 72,823 shares of the company’s stock worth $29,000 after buying an additional 48,705 shares during the period. Virtu Financial LLC acquired a new stake in shares of TRX Gold during the third quarter worth $52,000. Finally, HighTower Advisors LLC increased its position in shares of 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 buying an additional 29,416 shares during the period. 1.06% of the stock is currently owned by institutional investors and hedge funds.

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.