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

Equities researchers at StockNews.com began coverage on shares of TRX Gold (NYSE:TRX) in a note issued to investors on Sunday. The brokerage set a “hold” rating on the stock.

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

TRX Gold Trading Down 1.0 %

Shares of TRX opened at $0.30 on Friday. The stock’s 50-day moving average price is $0.36 and its two-hundred day moving average price is $0.39. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.54 and a current ratio of 0.84. TRX Gold has a 1 year low of $0.29 and a 1 year high of $0.49.

Hedge Funds Weigh In On TRX Gold

Several institutional investors and hedge funds have recently modified their holdings of TRX. Virtu Financial LLC bought a new position in shares of TRX Gold in the third quarter worth $52,000. Ground Swell Capital LLC raised its position 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 purchasing an additional 48,705 shares during the last quarter. Finally, HighTower Advisors LLC boosted its position 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. 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.