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

StockNews.com began coverage on shares of TRX Gold (NYSE:TRX) in a research report sent to investors on Wednesday morning. The firm issued a hold rating on the stock.

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

TRX Gold Price Performance

NYSE TRX opened at $0.32 on Wednesday. The business has a fifty day moving average price of $0.31 and a two-hundred day moving average price 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. TRX Gold has a fifty-two week low of $0.29 and a fifty-two week high of $0.49.

Institutional Trading of TRX Gold

A number of institutional investors and hedge funds have recently bought and sold shares of TRX. HighTower Advisors LLC increased its holdings in 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 period. Virtu Financial LLC acquired a new stake in TRX Gold in the third quarter valued at $52,000. Financial Sense Advisors Inc. increased its holdings 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 purchasing an additional 32,991 shares during the period. Sprott Inc. grew its holdings in TRX Gold by 506.7% during the 4th 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 period. Finally, Rossby Financial LCC acquired a new stake in TRX Gold during the 4th quarter worth about $255,000. 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.