TRX Gold (NYSE:TRX) Coverage Initiated at StockNews.com

StockNews.com began coverage on shares of TRX Gold (NYSE:TRX) in a research note published on Monday morning. The firm issued a hold rating on the stock.

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

TRX Gold Price Performance

TRX opened at $0.32 on Monday. The business has a fifty day moving average price of $0.35 and a 200 day moving average price of $0.38. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.84 and a quick ratio of 0.54. TRX Gold has a 12 month low of $0.29 and a 12 month high of $0.49.

Hedge Funds Weigh In On TRX Gold

A number of institutional investors and hedge funds have recently modified their holdings of TRX. Ground Swell Capital LLC lifted 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 worth $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 in the 3rd quarter valued at about $52,000. Finally, HighTower Advisors LLC raised its position 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 acquiring an additional 29,416 shares in the last quarter. Institutional investors and hedge funds 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.