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

StockNews.com initiated coverage on shares of TRX Gold (NYSE:TRX - Free Report) in a research note released on Wednesday. The brokerage issued a hold rating on the stock.

Separately, HC Wainwright reaffirmed a "buy" rating and issued 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 Performance

NYSE TRX traded down $0.00 on Wednesday, reaching $0.32. The stock had a trading volume of 277,475 shares, compared to its average volume of 395,382. 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 1 year low of $0.29 and a 1 year high of $0.49. The business has a 50 day moving average price of $0.31 and a 200 day moving average price of $0.35.

Hedge Funds Weigh In On TRX Gold

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC bought a new stake in shares of TRX Gold during the 3rd quarter worth $52,000. Financial Sense Advisors Inc. boosted its holdings in TRX Gold by 24.3% during 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. Sprott Inc. grew its position in shares of 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. BNP Paribas Financial Markets bought a new position in shares of TRX Gold in the fourth quarter worth about $120,000. Finally, Rossby Financial LCC acquired a new position in shares of TRX Gold during the 4th quarter worth about $255,000. Institutional investors and hedge funds own 1.06% of the company's stock.

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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.