BidaskClub Upgrades Tronox Ltd (TROX) to Strong-Buy
Tronox Ltd (NASDAQ:TROX) was upgraded by equities research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued on Wednesday.
Separately, UBS AG reiterated a “sell” rating and issued a $14.00 target price (down from $15.00) on shares of Tronox in a research note on Wednesday, June 14th.
Tronox (NASDAQ:TROX) opened at 22.62 on Wednesday. The stock has a market capitalization of $2.69 billion and a PE ratio of 56.70. Tronox has a 52-week low of $7.40 and a 52-week high of $23.39. The firm has a 50-day moving average of $20.25 and a 200-day moving average of $17.46.
Tronox (NASDAQ:TROX) last released its quarterly earnings results on Tuesday, August 8th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates 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. During the same quarter in the prior year, the business posted ($0.43) EPS. The firm’s revenue for the quarter was up 15.6% compared to the same quarter last year. On average, equities analysts expect that Tronox will post $0.23 EPS for the current year.
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In related news, Director Timothy C. Carlson purchased 25,000 shares of the firm’s stock in a transaction on Thursday, August 17th. The shares were bought at an average cost of $18.84 per share, for a total transaction of $471,000.00. Following the transaction, the director now directly owns 61,585 shares of the company’s stock, valued at approximately $1,160,261.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Jogita Khilnani sold 5,000 shares of Tronox stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $20.78, for a total transaction of $103,900.00. Following the sale, the senior vice president now owns 29,405 shares in the company, valued at $611,035.90. The disclosure for this sale can be found here.
Several institutional investors have recently modified their holdings of TROX. Northern Trust Corp boosted its position in shares of Tronox by 2.3% during the 2nd quarter. Northern Trust Corp now owns 749,160 shares of the company’s stock valued at $11,328,000 after acquiring an additional 17,114 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Tronox by 4.9% during the 2nd quarter. Vanguard Group Inc. now owns 5,314,573 shares of the company’s stock valued at $80,356,000 after acquiring an additional 247,582 shares in the last quarter. FMR LLC boosted its position in shares of Tronox by 195.5% during the 2nd quarter. FMR LLC now owns 9,696,579 shares of the company’s stock valued at $146,612,000 after acquiring an additional 6,415,494 shares in the last quarter. Quantbot Technologies LP boosted its position in shares of Tronox by 669.1% during the 2nd quarter. Quantbot Technologies LP now owns 60,367 shares of the company’s stock valued at $912,000 after acquiring an additional 52,518 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Tronox by 17.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,938,627 shares of the company’s stock valued at $74,668,000 after purchasing 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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