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

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

Separately, HC Wainwright reaffirmed a “buy” rating and set a $1.40 target price on shares of TRX Gold in a research note on Tuesday, July 16th.

TRX Gold Trading Down 1.6 %

NYSE TRX opened at $0.37 on Monday. The business’s fifty day simple moving average is $0.39 and its 200-day simple moving average is $0.41. TRX Gold has a 52 week low of $0.31 and a 52 week high of $0.49.

Hedge Funds Weigh In On TRX Gold

A hedge fund recently raised its stake in TRX Gold stock. Ground Swell Capital LLC raised its stake in TRX Gold Co. (NYSE:TRX) by 201.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 72,823 shares of the company’s stock after buying an additional 48,705 shares during the quarter. Ground Swell Capital LLC’s holdings in TRX Gold were worth $29,000 at the end of the most recent quarter. 1.06% of the stock is currently owned by institutional investors and hedge funds.

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.