Tronox Ltd (TROX) Lifted to “Strong-Buy” at BidaskClub
Tronox Ltd (NASDAQ:TROX) was upgraded by investment analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a report released on Friday.
Separately, UBS AG reiterated a “sell” rating and set a $16.00 price target (up previously from $15.00) on shares of Tronox in a research report on Wednesday, September 20th.
Tronox (TROX) opened at 24.86 on Friday. Tronox has a 12-month low of $7.40 and a 12-month high of $25.26. The company has a market cap of $2.96 billion and a PE ratio of 62.31. The stock has a 50 day moving average of $21.46 and a 200-day moving average of $18.04.
Tronox (NASDAQ:TROX) last issued its quarterly earnings results on Tuesday, August 8th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.07) by $0.16. The business had revenue of $622.00 million for the quarter, compared to the consensus estimate of $601.55 million. The business’s revenue was up 15.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.43) EPS. On average, equities research analysts anticipate that Tronox will post $0.01 earnings per share for the current fiscal year.
In related news, SVP Jogita Khilnani sold 5,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now 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 is accessible through this link. Also, SVP Niekerk Willem Hendrik Van sold 12,229 shares of the business’s stock in a transaction that occurred 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 sale, the senior vice president now owns 175,528 shares of the company’s stock, valued at approximately $3,633,429.60. The disclosure for this sale can be found here.
A number of large investors have recently added to or reduced their stakes in TROX. Northern Trust Corp lifted its position in Tronox by 2.3% in the 2nd quarter. Northern Trust Corp now owns 749,160 shares of the company’s stock worth $11,328,000 after buying an additional 17,114 shares during the last quarter. Vanguard Group Inc. lifted its position in Tronox by 4.9% in the 2nd quarter. Vanguard Group Inc. now owns 5,314,573 shares of the company’s stock worth $80,356,000 after buying an additional 247,582 shares during the last quarter. FMR LLC lifted its position in Tronox by 195.5% in the 2nd quarter. FMR LLC now owns 9,696,579 shares of the company’s stock worth $146,612,000 after buying an additional 6,415,494 shares during the last quarter. Quantbot Technologies LP lifted its position in 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 buying an additional 52,518 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Tronox by 17.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,938,627 shares of the company’s stock worth $74,668,000 after buying an additional 750,290 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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