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

Stock analysts at StockNews.com started coverage on shares of TRX Gold (NYSE:TRX) in a note issued to investors on Tuesday. The brokerage set a “hold” rating on the stock.

A number of other research analysts have also issued reports on the stock. TheStreet lowered shares of TRX Gold from a “c-” rating to a “d+” rating in a research report on Tuesday, May 30th. HC Wainwright increased their price target on TRX Gold from $1.10 to $1.30 in a research report on Thursday, July 20th.

TRX Gold Stock Performance

Shares of TRX Gold stock opened at $0.41 on Tuesday. The firm has a 50-day moving average of $0.42 and a 200-day moving average of $0.44. TRX Gold has a 52-week low of $0.31 and a 52-week high of $0.60. The stock has a market cap of $113.47 million, a PE ratio of -40.98 and a beta of 0.86.

Hedge Funds Weigh In On TRX Gold

Several hedge funds and other institutional investors have recently made changes to their positions in TRX. Renaissance Technologies LLC increased its stake in TRX Gold by 51.9% in the second quarter. Renaissance Technologies LLC now owns 995,158 shares of the company’s stock valued at $441,000 after acquiring an additional 339,930 shares during the last quarter. Guild Investment Management Inc. raised its holdings in shares of TRX Gold by 47.3% during the 1st quarter. Guild Investment Management Inc. now owns 498,000 shares of the company’s stock worth $240,000 after buying an additional 160,000 shares in the last quarter. HighTower Advisors LLC lifted its position in shares of TRX Gold by 12.8% during the 4th quarter. HighTower Advisors LLC now owns 297,190 shares of the company’s stock worth $99,000 after buying an additional 33,690 shares during the last quarter. Millennium Management LLC lifted its position in shares of TRX Gold by 493.1% during the 4th quarter. Millennium Management LLC now owns 254,416 shares of the company’s stock worth $86,000 after buying an additional 211,523 shares during the last quarter. Finally, Bank of Montreal Can acquired a new stake in TRX Gold in the second quarter valued at about $119,000. 1.57% 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.