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

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

TRX Gold Stock Performance

NYSE TRX opened at $0.43 on Tuesday. The company has a market capitalization of $120.47 million, a PE ratio of 43.23 and a beta of 0.65. The business’s fifty day moving average is $0.36 and its 200 day moving average is $0.38. TRX Gold has a fifty-two week low of $0.31 and a fifty-two week high of $0.60.

Hedge Funds Weigh In On TRX Gold

Large investors have recently made changes to their positions in the business. Renaissance Technologies LLC lifted its position in shares of 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 in the last quarter. HighTower Advisors LLC lifted its position in shares of TRX Gold by 12.8% in the fourth quarter. HighTower Advisors LLC now owns 297,190 shares of the company’s stock worth $99,000 after buying an additional 33,690 shares in the last quarter. Millennium Management LLC lifted its position in shares of TRX Gold by 493.1% in the fourth quarter. Millennium Management LLC now owns 254,416 shares of the company’s stock worth $86,000 after buying an additional 211,523 shares in the last quarter. Morgan Stanley lifted its position in shares of TRX Gold by 19.7% in the fourth quarter. Morgan Stanley now owns 179,454 shares of the company’s stock worth $61,000 after buying an additional 29,575 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of TRX Gold in the first quarter worth about $45,000. 1.06% of the stock is currently owned by hedge funds and other institutional investors.

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.