Barclays Begins Coverage on Tronox (TROX)
Stock analysts at Barclays started coverage on shares of Tronox (OTCMKTS:TROX) in a report issued on Thursday. The brokerage set an “overweight” rating on the basic materials company’s stock.
Several other brokerages have also recently weighed in on TROX. UBS boosted their price objective on Tronox from $17.00 to $18.00 and gave the stock a “sell” rating in a report on Thursday, November 9th. J P Morgan Chase & Co assumed coverage on Tronox in a research report on Tuesday, October 24th. They issued an “overweight” rating for the company. Alembic Global Advisors reaffirmed a “buy” rating on shares of Tronox in a research report on Monday, October 23rd. Vertical Research assumed coverage on Tronox in a research report on Monday, October 23rd. They set a “buy” rating for the company. Finally, BidaskClub raised Tronox from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $25.33.
Tronox (OTCMKTS:TROX) last announced its earnings results on Wednesday, November 8th. The basic materials company reported $0.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.15. The company had revenue of $435.00 million for the quarter, compared to the consensus estimate of $436.92 million. During the same period last year, the firm posted ($0.34) EPS. The company’s revenue was up 28.3% compared to the same quarter last year.
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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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