UBS AG Increases Tronox Ltd (TROX) Price Target to $17.00
Tronox Ltd (NASDAQ:TROX) had its price target raised by equities researchers at UBS AG from $16.00 to $17.00 in a research note issued on Friday, www.benzinga.com reports. The firm presently has a “sell” rating on the stock. UBS AG’s price target would indicate a potential downside of 33.83% from the stock’s previous close.
Separately, BidaskClub lowered Tronox from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 28th.
Shares of Tronox (NASDAQ:TROX) opened at 25.69 on Friday. The firm has a market cap of $3.05 billion and a price-to-earnings ratio of 64.39. Tronox has a one year low of $7.40 and a one year high of $26.59. The stock has a 50 day moving average price of $22.43 and a 200 day moving average price of $18.36.
Tronox (NASDAQ:TROX) last announced its quarterly earnings data on Tuesday, August 8th. The company reported $0.09 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.07) by $0.16. The firm had revenue of $622.00 million during the quarter, compared to the consensus estimate of $601.55 million. The firm’s quarterly revenue was up 15.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.43) earnings per share. On average, equities research analysts forecast that Tronox will post $0.01 EPS for the current year.
In other news, SVP Jogita Khilnani sold 5,000 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $20.78, for a total value of $103,900.00. Following the transaction, the senior vice president now directly owns 29,405 shares in the company, valued at approximately $611,035.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Niekerk Willem Hendrik Van sold 12,229 shares of the firm’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $20.70, for a total value of $253,140.30. Following the completion of the transaction, the senior vice president now owns 175,528 shares in the company, valued at $3,633,429.60. The disclosure for this sale can be found here.
Large investors have recently bought and sold shares of the company. Quantbot Technologies LP boosted its position in shares of Tronox by 669.1% in the 2nd quarter. Quantbot Technologies LP now owns 60,367 shares of the company’s stock worth $912,000 after purchasing an additional 52,518 shares during the last quarter. Fine Capital Partners L.P. boosted its position in shares of Tronox by 19.8% in the 2nd quarter. Fine Capital Partners L.P. now owns 4,526,988 shares of the company’s stock worth $68,448,000 after purchasing an additional 749,410 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Tronox by 25.6% in the 2nd quarter. Goldman Sachs Group Inc. now owns 3,172,642 shares of the company’s stock worth $47,970,000 after purchasing an additional 646,598 shares during the last quarter. Schneider Capital Management Corp bought a new position in shares of Tronox in the 2nd quarter worth $9,076,000. Finally, Intrinsic Edge Capital Management LLC boosted its position in shares of Tronox by 906.6% in the 2nd quarter. Intrinsic Edge Capital Management LLC now owns 251,662 shares of the company’s stock worth $3,805,000 after purchasing an additional 226,662 shares during the last quarter.
Tronox Company Profile
Tronox Limited produces and markets titanium bearing mineral sands and titanium dioxide (TiO2) pigment in North America, Europe, South Africa, and the Asia-Pacific region. It primarily operates in two segments, TiO2 and Alkali. The TiO2 segment engages in the exploration, mining, and beneficiation of mineral sands deposits.
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