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

Analysts at StockNews.com initiated coverage on shares of TRX Gold (NYSE:TRX) in a research note issued on Monday. The firm set a “hold” rating on the stock.

Separately, HC Wainwright reaffirmed 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

TRX opened at $0.29 on Monday. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.83 and a quick ratio of 0.51. TRX Gold has a 1 year low of $0.29 and a 1 year high of $0.49. The company’s 50 day simple moving average is $0.32 and its 200 day simple moving average is $0.36.

Institutional Investors Weigh In On TRX Gold

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ground Swell Capital LLC raised its holdings in 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 acquiring an additional 48,705 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of TRX Gold during the 3rd quarter valued at about $52,000. Sprott Inc. lifted its holdings in TRX Gold by 506.7% in the fourth quarter. Sprott Inc. now owns 145,454 shares of the company’s stock worth $45,000 after acquiring an additional 121,479 shares during the last quarter. Financial Sense Advisors Inc. boosted its stake in TRX Gold by 24.3% in the fourth quarter. Financial Sense Advisors Inc. now owns 168,483 shares of the company’s stock valued at $52,000 after acquiring an additional 32,991 shares during the period. Finally, HighTower Advisors LLC grew its holdings in shares of TRX Gold by 9.6% during the third quarter. HighTower Advisors LLC now owns 334,456 shares of the company’s stock valued at $130,000 after purchasing an additional 29,416 shares during the last quarter. Hedge funds and other institutional investors own 1.06% of the company’s stock.

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.