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

Investment analysts at StockNews.com started 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 reissued a “buy” rating and issued a $1.50 price objective (up from $1.40) on shares of TRX Gold in a research note on Tuesday, December 3rd.

TRX Gold Price Performance

Shares of TRX opened at $0.30 on Tuesday. TRX Gold has a one year low of $0.29 and a one year high of $0.49. The stock has a 50-day moving average of $0.32 and a 200-day moving average of $0.35. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.51 and a current ratio of 0.83.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Virtu Financial LLC purchased a new stake in shares of TRX Gold during the third quarter valued at approximately $52,000. Sprott Inc. increased its position in shares of TRX Gold by 506.7% during the 4th quarter. Sprott Inc. now owns 145,454 shares of the company’s stock valued at $45,000 after purchasing an additional 121,479 shares during the last quarter. Financial Sense Advisors Inc. increased its position in shares of TRX Gold by 24.3% during the 4th quarter. Financial Sense Advisors Inc. now owns 168,483 shares of the company’s stock valued at $52,000 after purchasing an additional 32,991 shares during the last quarter. HighTower Advisors LLC raised its stake in shares of TRX Gold by 9.6% during 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 period. Finally, BNP Paribas Financial Markets purchased a new position in shares of TRX Gold in the 4th quarter worth about $120,000. 1.06% of the stock is currently owned by hedge funds and other 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.