Shares of Tronox Ltd (OTCMKTS:TROX) have received a consensus recommendation of “Buy” from the twelve ratings firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $25.00.
Several research analysts have weighed in on the company. Zacks Investment Research lowered Tronox from a “hold” rating to a “sell” rating in a report on Thursday, August 9th. SunTrust Banks assumed coverage on Tronox in a report on Tuesday, July 31st. They set a “buy” rating and a $24.00 target price on the stock. MED reiterated a “buy” rating and set a $35.00 target price on shares of Tronox in a report on Thursday, May 10th. Barclays reduced their target price on Tronox to $24.00 and set an “overweight” rating on the stock in a report on Monday, August 6th. Finally, BMO Capital Markets reduced their target price on Tronox from $31.00 to $28.00 and set an “outperform” rating on the stock in a report on Tuesday, August 7th.
In other Tronox news, SVP Jeffrey N. Neuman purchased 4,500 shares of the stock in a transaction on Friday, August 3rd. The shares were purchased at an average price of $16.76 per share, with a total value of $75,420.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeffry N. Quinn purchased 12,000 shares of the stock in a transaction on Friday, August 3rd. The shares were acquired at an average cost of $16.97 per share, for a total transaction of $203,640.00. Following 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.
Several institutional investors have recently bought and sold shares of the company. Jane Street Group LLC grew its position in shares of Tronox by 215.2% in the second quarter. Jane Street Group LLC now owns 18,191 shares of the basic materials company’s stock valued at $358,000 after purchasing an additional 33,975 shares during the last quarter. Putnam Investments LLC acquired a new position in shares of Tronox in the second quarter valued at approximately $1,563,000. Scopus Asset Management L.P. grew its position in shares of Tronox by 121.2% in the second quarter. Scopus Asset Management L.P. now owns 175,000 shares of the basic materials company’s stock valued at $3,444,000 after purchasing an additional 95,900 shares during the last quarter. Maple Rock Capital Partners Inc. grew its position 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 purchasing an additional 275,000 shares during the last quarter. Finally, Quantum Capital Management acquired a new position in shares of Tronox in the second quarter valued at approximately $201,000.
Shares of Tronox stock traded up $0.54 during trading on Tuesday, reaching $15.63. 103,672 shares of the company were exchanged, compared to its average volume of 1,309,145. Tronox has a twelve month low of $13.50 and a twelve month high of $28.40.
Tronox (OTCMKTS:TROX) last announced its quarterly earnings data on Wednesday, August 1st. The basic materials company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.05. The company had revenue of $492.00 million for the quarter, compared to analyst estimates of $497.24 million. During the same period last year, the firm earned ($0.16) earnings per share. The firm’s revenue for the quarter was up 16.9% on a year-over-year basis.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 7th. Investors of record on Monday, August 27th will be given a $0.045 dividend. This represents a $0.18 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date is Friday, August 24th.
Tronox Company Profile
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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