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

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

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

TRX Gold Stock Performance

Shares of TRX opened at $0.33 on Tuesday. The company’s fifty day moving average is $0.34 and its 200-day moving average is $0.38. TRX Gold has a 12 month low of $0.29 and a 12 month high of $0.49. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.54 and a current ratio of 0.84.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Ground Swell Capital LLC grew its stake in 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 during the last quarter. Virtu Financial LLC acquired a new position in TRX Gold in the 3rd quarter valued at $52,000. Finally, HighTower Advisors LLC grew its stake in TRX Gold by 9.6% in the 3rd quarter. HighTower Advisors LLC now owns 334,456 shares of the company’s stock valued at $130,000 after buying an additional 29,416 shares during the last quarter. 1.06% of the stock is currently owned by institutional investors and hedge funds.

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.