Brokerages Set $26.33 Target Price for Tronox Ltd (TROX)
Shares of Tronox Ltd (NASDAQ:TROX) have received a consensus broker rating score of 2.33 (Buy) from the three analysts that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong sell rating and two have issued a strong buy rating on the company.
Brokers have set a 1-year consensus target price of $26.33 for the company and are predicting that the company will post $0.03 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Tronox an industry rank of 66 out of 265 based on the ratings given to related companies.
TROX has been the topic of a number of recent research reports. Alembic Global Advisors reaffirmed a “buy” rating on shares of Tronox in a research note on Monday, October 23rd. Vertical Research initiated coverage on shares of Tronox in a research note on Monday, October 23rd. They set a “buy” rating on the stock. BidaskClub downgraded shares of Tronox from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 28th. J P Morgan Chase & Co initiated coverage on shares of Tronox in a research note on Tuesday, October 24th. They set an “overweight” rating on the stock. Finally, UBS Group AG (USA) upped their price target on shares of Tronox from $16.00 to $17.00 and gave the company a “sell” rating in a research note on Friday, October 13th.
Shares of Tronox (TROX) opened at $25.80 on Friday.
Tronox (NASDAQ:TROX) last issued its earnings results on Tuesday, August 8th. The company reported $0.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.16. The company had revenue of $622.00 million for the quarter, compared to the consensus estimate of $601.55 million. During the same quarter in the prior year, the company posted ($0.43) EPS. Tronox’s revenue was up 15.6% compared to the same quarter last year.
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In other Tronox news, Director Timothy C. Carlson purchased 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The shares were bought at an average price of $18.84 per share, with a total value of $471,000.00. Following the completion of the purchase, the director now directly owns 61,585 shares in the company, valued at $1,160,261.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Niekerk Willem Hendrik Van sold 12,229 shares of the company’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $20.70, for a total transaction of $253,140.30. Following the sale, the senior vice president now directly owns 175,528 shares in the company, valued at approximately $3,633,429.60. The disclosure for this sale can be found here.
Institutional investors and hedge funds have recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Tronox in the second quarter valued at $215,000. Regentatlantic Capital LLC purchased a new stake in shares of Tronox in the third quarter valued at $351,000. Bbva Compass Bancshares Inc. raised its stake in shares of Tronox by 35.0% in the third quarter. Bbva Compass Bancshares Inc. now owns 21,627 shares of the company’s stock valued at $457,000 after acquiring an additional 5,603 shares during the period. Voya Investment Management LLC raised its stake in shares of Tronox by 11.3% in the second quarter. Voya Investment Management LLC now owns 30,097 shares of the company’s stock valued at $455,000 after acquiring an additional 3,063 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Tronox by 0.7% in the second quarter. The Manufacturers Life Insurance Company now owns 48,279 shares of the company’s stock valued at $731,000 after acquiring an additional 350 shares during the period.
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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