Traders Purchase Large Volume of Tronox Put Options (TROX)

Tronox Ltd (OTCMKTS:TROX) was the target of some unusual options trading activity on Tuesday. Traders acquired 4,950 put options on the stock. This is an increase of approximately 1,199% compared to the typical volume of 381 put options.

In other Tronox news, SVP Niekerk Willem Hendrik Van sold 12,229 shares of the firm’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 transaction, the senior vice president now directly owns 175,528 shares of the company’s stock, valued at approximately $3,633,429.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Tronox (OTCMKTS:TROX) last released its earnings results on Wednesday, November 8th. The basic materials company reported $0.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.15. The firm had revenue of $435.00 million during the quarter, compared to the consensus estimate of $436.92 million. The company’s revenue was up 28.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.34) EPS.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Monday, November 20th will be issued a dividend of $0.045 per share. This represents a $0.18 dividend on an annualized basis and a dividend yield of Infinity. The ex-dividend date is Friday, November 17th.

TROX has been the topic of a number of research reports. BidaskClub lowered shares of Tronox from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 28th. Alembic Global Advisors reissued a “buy” rating and issued a $35.00 price target on shares of Tronox in a research report on Monday, November 20th. Vertical Research started coverage on shares of Tronox in a research report on Monday, October 23rd. They issued a “buy” rating for the company. J P Morgan Chase & Co started coverage on Tronox in a report on Tuesday, October 24th. They issued an “overweight” rating on the stock. Finally, UBS increased their price objective on Tronox from $16.00 to $17.00 and gave the stock a “sell” rating in a report on Friday, October 13th. One equities research analyst has rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating to the company. Tronox presently has an average rating of “Buy” and an average price target of $26.50.

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About Tronox

Tronox Limited is engaged in production and marketing of titanium bearing mineral sands and titanium dioxide pigment (TiO2). The Company’s TiO2 products are critical components of everyday applications, such as coatings, plastics, paper and other applications. The Company’s mineral sands business consists primarily of two product streams: titanium feedstock and zircon.

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