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

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

Separately, HC Wainwright reissued a “buy” rating and set a $1.40 price target on shares of TRX Gold in a report on Tuesday, July 16th.

TRX Gold Price Performance

Shares of TRX opened at $0.37 on Monday. TRX Gold has a 1 year low of $0.31 and a 1 year high of $0.49. The company’s fifty day moving average is $0.39 and its two-hundred day moving average is $0.41.

Hedge Funds Weigh In On TRX Gold

An institutional investor recently raised its position in TRX Gold stock. Ground Swell Capital LLC increased its position in shares of TRX Gold Co. (NYSE:TRX) by 201.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 72,823 shares of the company’s stock after purchasing an additional 48,705 shares during the quarter. Ground Swell Capital LLC’s holdings in TRX Gold were worth $29,000 as of its most recent filing with the SEC. 1.06% of the stock is currently owned by 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.