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 Monday. The firm set a “hold” rating on the stock.

Separately, HC Wainwright restated a “buy” rating and issued a $1.40 price objective on shares of TRX Gold in a research report on Tuesday, July 16th.

TRX Gold Price Performance

Shares of TRX stock opened at $0.37 on Monday. TRX Gold has a 52-week low of $0.31 and a 52-week high of $0.49. The business has a 50-day simple moving average of $0.39 and a 200-day simple moving average of $0.41.

Institutional Inflows and Outflows

An institutional investor recently raised its position in TRX Gold stock. Ground Swell Capital LLC increased its holdings in TRX Gold Co. (NYSE:TRX) by 201.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm 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 at the end of the most recent reporting period. 1.06% of the stock is currently 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.