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

Equities research analysts at StockNews.com started coverage on shares of TRX Gold (NYSE:TRX) in a research report issued on Thursday. The firm set a “hold” rating on the stock.

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

TRX Gold Stock Down 0.3 %

TRX opened at $0.32 on Thursday. The company has a 50 day moving average of $0.31 and a two-hundred day moving average of $0.35. TRX Gold has a 52-week low of $0.29 and a 52-week high of $0.49. The company has a current ratio of 0.83, a quick ratio of 0.51 and a debt-to-equity ratio of 0.03.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. HighTower Advisors LLC increased its stake in 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 buying an additional 29,416 shares during the period. Virtu Financial LLC acquired a new stake in shares of TRX Gold during the third quarter valued at about $52,000. Financial Sense Advisors Inc. lifted its stake in shares of TRX Gold by 24.3% in the fourth quarter. Financial Sense Advisors Inc. now owns 168,483 shares of the company’s stock worth $52,000 after acquiring an additional 32,991 shares in the last quarter. Sprott Inc. boosted its holdings in TRX Gold by 506.7% in the fourth quarter. Sprott Inc. now owns 145,454 shares of the company’s stock valued at $45,000 after purchasing an additional 121,479 shares during the last quarter. Finally, Rossby Financial LCC acquired a new stake in TRX Gold during the 4th quarter valued at approximately $255,000. 1.06% of the stock is currently owned by hedge funds and other 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.