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

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

Separately, HC Wainwright lifted their price target on TRX Gold from $1.10 to $1.30 in a research note on Thursday, July 20th.

TRX Gold Trading Up 2.3 %

Shares of TRX opened at $0.38 on Friday. The business’s 50-day moving average price is $0.39 and its 200 day moving average price is $0.43. The stock has a market capitalization of $105.14 million, a P/E ratio of -37.97 and a beta of 0.92. TRX Gold has a 1-year low of $0.31 and a 1-year high of $0.60.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TRX. Renaissance Technologies LLC increased its position in TRX Gold by 325.1% in the 1st quarter. Renaissance Technologies LLC now owns 611,000 shares of the company’s stock worth $189,000 after buying an additional 467,274 shares during the period. Virtu Financial LLC bought a new position in TRX Gold in the 1st quarter worth approximately $45,000. HighTower Advisors LLC increased its position in shares of TRX Gold by 12.8% during the fourth quarter. HighTower Advisors LLC now owns 297,190 shares of the company’s stock valued at $99,000 after purchasing an additional 33,690 shares during the period. Morgan Stanley raised its stake in shares of TRX Gold by 19.7% in the fourth quarter. Morgan Stanley now owns 179,454 shares of the company’s stock valued at $61,000 after purchasing an additional 29,575 shares in the last quarter. Finally, Millennium Management LLC raised its stake 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 valued at $86,000 after purchasing an additional 211,523 shares in the last quarter. 1.57% of the stock is 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.