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

Research analysts at StockNews.com began coverage on shares of TRX Gold (NYSE:TRX) in a report released on Wednesday. The brokerage set a “hold” rating on the stock.

TRX Gold Trading Up 2.3%

TRX Gold stock opened at $0.32 on Wednesday. The stock has a market cap of $88.98 million, a P/E ratio of -31.52 and a beta of 0.40. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.83 and a quick ratio of 0.51. TRX Gold has a 1 year low of $0.27 and a 1 year high of $0.49. The firm’s 50 day moving average price is $0.31 and its 200-day moving average price is $0.33.

Institutional Investors Weigh In On TRX Gold

Several institutional investors and hedge funds have recently modified their holdings of TRX. Financial Sense Advisors Inc. raised its position in shares of 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 buying an additional 32,991 shares during the last quarter. Sprott Inc. increased its position in TRX Gold by 506.7% in the fourth quarter. Sprott Inc. now owns 145,454 shares of the company’s stock worth $45,000 after purchasing an additional 121,479 shares during the last quarter. Rossby Financial LCC bought a new stake in TRX Gold in the fourth quarter worth $255,000. Finally, BNP Paribas Financial Markets bought a new stake in TRX Gold in the fourth quarter worth $120,000. Institutional investors own 1.06% of the company’s stock.

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.