Research Analysts’ Weekly Ratings Changes for Tronox (TROX)

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A number of firms have modified their ratings and price targets on shares of Tronox (OTCMKTS: TROX) recently:

  • 8/15/2018 – Tronox was upgraded by analysts at Zacks Investment Research from a “strong sell” rating to a “hold” rating. According to Zacks, “Tronox Incorporated is a producer and marketer of titanium products. Products offered by the Company includes: titanium ore and titanium dioxide (TiO2); mineral sands products; and electrolytic and speciality chemicals. Titanium products offered by Tronox find its application in paints, coatings and plastics. The electrolytic and specialty chemicals find s application in the paper and battery industries. Tronox’s mineral sands operations consist of two product streams – titanium feedstock, which includes ilmenite, natural rutile, titanium slag and synthetic rutile; and zircon, which is contained in the mineral sands extracted to capture natural titanium feedstock. Tronox operates three separate mining operations: KZN Sands and Namakwa Sands located in South Africa and Perth in Western Australia. Production of electrolytic and specialty chemicals is carried out in United States. Tronox Incorporated is based in Oklahoma City, Oklahoma. “
  • 8/9/2018 – Tronox was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Tronox Incorporated is a producer and marketer of titanium products. Products offered by the Company includes: titanium ore and titanium dioxide (TiO2); mineral sands products; and electrolytic and speciality chemicals. Titanium products offered by Tronox find its application in paints, coatings and plastics. The electrolytic and specialty chemicals find s application in the paper and battery industries. Tronox’s mineral sands operations consist of two product streams – titanium feedstock, which includes ilmenite, natural rutile, titanium slag and synthetic rutile; and zircon, which is contained in the mineral sands extracted to capture natural titanium feedstock. Tronox operates three separate mining operations: KZN Sands and Namakwa Sands located in South Africa and Perth in Western Australia. Production of electrolytic and specialty chemicals is carried out in United States. Tronox Incorporated is based in Oklahoma City, Oklahoma. “
  • 8/7/2018 – Tronox had its price target lowered by analysts at BMO Capital Markets from $31.00 to $28.00. They now have an “outperform” rating on the stock.
  • 8/6/2018 – Tronox had its price target lowered by analysts at Barclays PLC to $24.00. They now have an “overweight” rating on the stock.
  • 7/31/2018 – Tronox is now covered by analysts at SunTrust Banks, Inc.. They set a “buy” rating and a $24.00 price target on the stock.

OTCMKTS TROX traded up $0.41 on Tuesday, hitting $15.50. The company’s stock had a trading volume of 713,629 shares, compared to its average volume of 1,309,145. Tronox Ltd has a 1-year low of $13.50 and a 1-year high of $28.40.

Tronox (OTCMKTS:TROX) last announced its quarterly earnings results on Wednesday, August 1st. The basic materials company reported $0.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.05. The business had revenue of $492.00 million during the quarter, compared to analyst estimates of $497.24 million. During the same quarter last year, the company posted ($0.16) earnings per share. The company’s revenue was up 16.9% compared to the same quarter last year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 7th. Stockholders of record on Monday, August 27th will be given a dividend of $0.045 per share. This represents a $0.18 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Friday, August 24th.

In other news, SVP Jeffrey N. Neuman acquired 4,500 shares of the firm’s stock in a transaction dated Friday, August 3rd. The stock was bought at an average cost of $16.76 per share, for a total transaction of $75,420.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffry N. Quinn acquired 12,000 shares of the firm’s stock in a transaction dated Friday, August 3rd. The shares were purchased at an average price of $16.97 per share, with a total value of $203,640.00. Following the completion of the transaction, the chief executive officer now owns 171,931 shares of the company’s stock, valued at $2,917,669.07. The disclosure for this purchase can be found here.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Jane Street Group LLC boosted its stake in Tronox by 215.2% during the second quarter. Jane Street Group LLC now owns 18,191 shares of the basic materials company’s stock worth $358,000 after acquiring an additional 33,975 shares in the last quarter. Putnam Investments LLC bought a new position in Tronox during the second quarter worth $1,563,000. Scopus Asset Management L.P. boosted its stake in Tronox by 121.2% during the second quarter. Scopus Asset Management L.P. now owns 175,000 shares of the basic materials company’s stock worth $3,444,000 after acquiring an additional 95,900 shares in the last quarter. Maple Rock Capital Partners Inc. lifted its stake in shares of Tronox by 13.8% in the second quarter. Maple Rock Capital Partners Inc. now owns 2,272,173 shares of the basic materials company’s stock valued at $44,716,000 after buying an additional 275,000 shares in the last quarter. Finally, Quantum Capital Management bought a new position in shares of Tronox in the second quarter valued at $201,000.

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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