Tronox Ltd (TROX) Receives Buy Rating from Alembic Global Advisors
Tronox Ltd (NASDAQ:TROX)‘s stock had its “buy” rating reissued by equities researchers at Alembic Global Advisors in a report issued on Monday.
TROX has been the subject of a number of other reports. BidaskClub upgraded Tronox from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 6th. UBS AG lifted their target price on Tronox from $16.00 to $17.00 and gave the company a “sell” rating in a research note on Friday, October 13th. Finally, Vertical Research started coverage on Tronox in a research note on Monday. They issued a “buy” rating for the company.
Tronox (NASDAQ TROX) traded up 0.95% during mid-day trading on Monday, reaching $26.58. The company’s stock had a trading volume of 1,339,504 shares. The stock’s 50-day moving average is $23.52 and its 200-day moving average is $18.74. Tronox has a 12 month low of $7.40 and a 12 month high of $27.42. The firm has a market capitalization of $3.16 billion and a PE ratio of 66.62.
Tronox (NASDAQ:TROX) last issued its earnings results 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 company had revenue of $622.00 million during the quarter, compared to analyst estimates of $601.55 million. During the same quarter in the previous year, the firm earned ($0.43) earnings per share. The business’s revenue was up 15.6% on a year-over-year basis. On average, equities analysts anticipate that Tronox will post $0.01 EPS for the current year.
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In other news, SVP Niekerk Willem Hendrik Van sold 12,229 shares of Tronox stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $20.70, for a total transaction of $253,140.30. Following the sale, the senior vice president now owns 175,528 shares of the company’s stock, valued at $3,633,429.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Timothy C. Carlson purchased 25,000 shares of the business’s stock in a transaction dated Thursday, August 17th. The shares were acquired at an average cost of $18.84 per share, for a total transaction of $471,000.00. Following the acquisition, the director now owns 61,585 shares of the company’s stock, valued at approximately $1,160,261.40. The disclosure for this purchase can be found here.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its holdings in shares of Tronox by 25.6% during the second quarter. Goldman Sachs Group Inc. now owns 3,172,642 shares of the company’s stock valued at $47,970,000 after buying an additional 646,598 shares during the last quarter. BlueCrest Capital Management Ltd bought a new stake in shares of Tronox during the second quarter valued at approximately $2,011,000. Schneider Capital Management Corp bought a new stake in shares of Tronox during the second quarter valued at approximately $9,076,000. Quantbot Technologies LP raised its holdings in shares of Tronox by 669.1% during the second quarter. Quantbot Technologies LP now owns 60,367 shares of the company’s stock valued at $912,000 after buying an additional 52,518 shares during the last quarter. Finally, Fine Capital Partners L.P. raised its holdings in shares of Tronox by 19.8% during the second quarter. Fine Capital Partners L.P. now owns 4,526,988 shares of the company’s stock valued at $68,448,000 after buying an additional 749,410 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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