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

Investment analysts at StockNews.com assumed coverage on shares of TRX Gold (NYSE:TRX) in a research note issued on Sunday. The brokerage set a “hold” rating on the stock.

TRX Gold Price Performance

Shares of TRX stock opened at $0.33 on Friday. The stock has a 50 day moving average price of $0.31 and a 200 day moving average price of $0.33. TRX Gold has a 52-week low of $0.27 and a 52-week high of $0.49. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.51 and a current ratio of 0.83. The firm has a market capitalization of $93.09 million, a P/E ratio of -33.00 and a beta of 0.37.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Sprott Inc. boosted its position in TRX Gold by 506.7% in the 4th quarter. Sprott Inc. now owns 145,454 shares of the company’s stock valued at $45,000 after buying an additional 121,479 shares during the period. Financial Sense Advisors Inc. grew its stake in 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 purchasing an additional 32,991 shares in the last quarter. Virtu Financial LLC purchased a new position in TRX Gold during the 3rd quarter worth $52,000. BNP Paribas Financial Markets purchased a new position in TRX Gold during the 4th quarter worth $120,000. Finally, HighTower Advisors LLC raised 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 valued at $130,000 after purchasing an additional 29,416 shares in the last quarter. 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.