Stock Analysts Initiate Coverage of TRX Gold (NYSE:TRX)

On Sunday, analysts from StockNews.com began coverage on shares of TRX Gold (NYSE:TRX – Get Free Report). In their report, they assigned a "hold" rating to the stock, indicating a neutral outlook on its performance.

In a separate announcement, HC Wainwright reaffirmed their "buy" rating for TRX Gold and increased the price target to $1.50, up from a previous estimate of $1.40. This adjustment reflects a positive view on the stock's potential growth.

Current Stock Performance

The shares of TRX Gold opened at $0.31 on Friday, experiencing a decline of 4.6%. The stock's 50-day moving average stands at $0.32, while the 200-day moving average is $0.36. In terms of financial ratios, TRX Gold has a current ratio of 0.83, a quick ratio of 0.51, and a low debt-to-equity ratio of 0.03. Over the last twelve months, the stock has reached a low of $0.29 and a high of $0.49.

Institutional Investment Activity

Several institutional investors have been active in buying and selling shares of TRX Gold recently. Ground Swell Capital LLC significantly increased its position by 201.9% during the third quarter, now owning 72,823 shares valued at about $29,000 after purchasing an additional 48,705 shares in the last quarter. Sprott Inc. also boosted its stake in TRX Gold by an impressive 506.7% in the fourth quarter and now holds 145,454 shares valued at $45,000, after acquiring 121,479 additional shares.

Furthermore, Financial Sense Advisors Inc. grew its holding by 24.3%, owning 168,483 shares valued at $52,000 post a purchase of 32,991 shares. Other notable transactions include Virtu Financial LLC acquiring a new stake worth approximately $52,000 and BNP Paribas Financial Markets purchasing shares worth about $120,000. Currently, approximately 1.06% of TRX Gold stock is owned by institutional and hedge funds.

Overview of TRX Gold

TRX Gold Corporation is engaged in the exploration, development, and production of mineral property interests in Tanzania, focusing primarily on gold deposits. The company is particularly known for its Buckreef gold project, which consists of a Special Mining License covering 16.04 square kilometers, along with 12 Prospecting Licenses spanning 98.19 square kilometers located in north-central Tanzania.

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TRX, Gold, Stocks, Analysis, Investment