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

Equities research analysts at StockNews.com began coverage on shares of TRX Gold (NYSE:TRX) in a note issued to investors on Thursday. The brokerage set a “hold” rating on the stock.

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

TRX Gold Stock Up 2.2 %

Shares of NYSE TRX opened at $0.32 on Thursday. 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 1-year low of $0.29 and a 1-year high of $0.49. The stock has a fifty day simple moving average of $0.33 and a two-hundred day simple moving average of $0.37.

Institutional Trading of TRX Gold

A number of hedge funds have recently bought and sold shares of TRX. Ground Swell Capital LLC raised its holdings in TRX Gold by 201.9% during 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 during the last quarter. Virtu Financial LLC purchased a new position in shares of TRX Gold during the third quarter valued at approximately $52,000. Finally, HighTower Advisors LLC raised its position in shares of TRX Gold by 9.6% in the 3rd 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 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.