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

Analysts at StockNews.com started coverage on shares of TRX Gold (NYSE:TRX) in a research report issued to clients and investors on Tuesday. The brokerage set a “hold” rating on the stock.

Separately, HC Wainwright restated a “buy” rating and issued a $1.50 price target (up from $1.40) on shares of TRX Gold in a research note on Tuesday, December 3rd.

TRX Gold Price Performance

TRX Gold stock opened at $0.32 on Tuesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.54 and a current ratio of 0.84. The firm has a 50-day moving average of $0.34 and a 200-day moving average of $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 TRX. Ground Swell Capital LLC boosted its stake in shares of 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 acquiring an additional 48,705 shares during the period. Virtu Financial LLC bought a new position in TRX Gold during the third quarter worth $52,000. Finally, HighTower Advisors LLC increased its holdings in shares of 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 purchasing 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.