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 report issued on Wednesday. The firm set a “hold” rating on the stock.

Separately, HC Wainwright reaffirmed a “buy” rating and issued 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 Stock Performance

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

Institutional Investors Weigh In On TRX Gold

A number of institutional investors and hedge funds have recently modified their holdings of the business. Ground Swell Capital LLC boosted its holdings 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 valued at $29,000 after buying an additional 48,705 shares during the period. Virtu Financial LLC acquired a new position in TRX Gold during the third quarter worth $52,000. Finally, HighTower Advisors LLC lifted 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 acquiring an additional 29,416 shares during the last quarter. 1.06% of the stock is owned by institutional investors.

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.