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

StockNews.com began coverage on shares of TRX Gold (NYSE:TRX) in a report published on Wednesday morning. The brokerage issued a hold rating on the stock.

TRX Gold Stock Down 1.7%

NYSE TRX opened at $0.31 on Wednesday. The business has a fifty day moving average price of $0.31 and a 200 day moving average price of $0.33. 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 company has a market cap of $87.46 million, a P/E ratio of -30.98 and a beta of 0.40. TRX Gold has a one year low of $0.27 and a one year high of $0.49.

Hedge Funds Weigh In On TRX Gold

Several hedge funds and other institutional investors have recently modified their holdings of TRX. Financial Sense Advisors Inc. grew its stake in TRX Gold by 41.5% during the 1st quarter. Financial Sense Advisors Inc. now owns 238,483 shares of the company’s stock valued at $74,000 after acquiring an additional 70,000 shares in the last quarter. Rossby Financial LCC boosted its holdings in shares of TRX Gold by 15.7% during the 1st quarter. Rossby Financial LCC now owns 960,000 shares of the company’s stock worth $310,000 after purchasing an additional 130,000 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of TRX Gold in the fourth quarter valued at approximately $120,000. Finally, Sprott Inc. increased its holdings in shares of TRX Gold by 506.7% in the fourth quarter. Sprott Inc. now owns 145,454 shares of the company’s stock valued at $45,000 after purchasing an additional 121,479 shares during the last quarter. 1.06% of the stock is owned by hedge funds and other 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.