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

Stock analysts at StockNews.com have recently commenced coverage on shares of TRX Gold (NYSE:TRX) as noted in a research note provided to investors. This update was released on Monday. The firm has assigned a rating of “hold” to the stock, indicating a neutral stance on its expected performance.

In a separate report, HC Wainwright confirmed their existing “buy” rating for TRX Gold. They also set a target price of $1.50, an increase from their previous estimate of $1.40. This positive outlook reflects greater confidence in the stock's future potential as noted in a research note published on Tuesday, December 3rd.

TRX Gold Trading Performance

On Monday, TRX Gold shares opened at a price of $0.29. The stock is currently trading below its 50-day and 200-day moving averages, which are $0.32 and $0.36, respectively. Over the past year, TRX Gold has seen its shares fluctuate between a low of $0.29 and a high of $0.49. The company's financial metrics include a debt-to-equity ratio of 0.03, a current ratio of 0.83, and a quick ratio of 0.51, highlighting a stable financial position.

Activities of Institutional Investors

There has been notable activity among institutional investors and hedge funds concerning TRX Gold. Recently, Virtu Financial LLC entered a new position in TRX Gold during the third quarter, investing approximately $52,000. Additionally, Financial Sense Advisors Inc. bolstered its holdings by 24.3% in the fourth quarter, now owning a total of 168,483 shares valued at around $52,000 after acquiring an additional 32,991 shares during that period. Ground Swell Capital LLC also increased its stake significantly by 201.9% during the same quarter, currently holding 72,823 shares valued at $29,000 after purchasing 48,705 additional shares.

Moreover, Sprott Inc. expanded their position by an impressive 506.7% in the fourth quarter, raising their total to 145,454 shares valued at $45,000 after acquiring 121,479 shares. Furthermore, BNP Paribas Financial Markets made a notable entry into the stock with a new investment during the fourth quarter valued at approximately $120,000. Currently, institutional investors and hedge funds collectively own about 1.06% of TRX Gold’s stock.

Overview of TRX Gold Corporation

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TRX Gold Corporation is primarily engaged in the exploration, development, and production of mineral property interests in the United Republic of Tanzania, focusing primarily on gold deposits. The company possesses interests in the Buckreef gold project, which includes a Special Mining License covering an area of 16.04 square kilometers and 12 Prospecting Licenses spanning 98.19 square kilometers located in north-central Tanzania.

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TRX, Gold, Stock