Tronox Ltd (OTCMKTS:TROX)’s share price rose 6.3% on Thursday . The company traded as high as $12.30 and last traded at $12.17. Approximately 1,640,823 shares traded hands during mid-day trading, an increase of 20% from the average daily volume of 1,365,597 shares. The stock had previously closed at $11.45.
TROX has been the topic of a number of research analyst reports. SunTrust Banks initiated coverage on Tronox in a research note on Tuesday, July 31st. They issued a “buy” rating and a $24.00 target price on the stock. Alembic Global Advisors set a $35.00 price objective on Tronox and gave the company a “buy” rating in a research report on Monday, October 29th. Morgan Stanley set a $16.00 price objective on Tronox and gave the company a “hold” rating in a research report on Tuesday, September 25th. Zacks Investment Research upgraded Tronox from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 15th. Finally, BMO Capital Markets reduced their price objective on Tronox to $13.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $23.60.
Tronox (OTCMKTS:TROX) last released its quarterly earnings data on Wednesday, August 1st. The basic materials company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.05. The business had revenue of $492.00 million during the quarter, compared to analysts’ expectations of $497.24 million. During the same quarter last year, the business posted ($0.16) EPS. The company’s quarterly revenue was up 16.9% compared to the same quarter last year.
A number of hedge funds have recently bought and sold shares of TROX. Legal & General Group Plc increased its position in Tronox by 64.7% during the 1st quarter. Legal & General Group Plc now owns 35,919 shares of the basic materials company’s stock valued at $663,000 after buying an additional 14,108 shares in the last quarter. WINTON GROUP Ltd bought a new position in Tronox during the 1st quarter valued at approximately $256,000. Bourgeon Capital Management LLC increased its position in Tronox by 34.8% during the 2nd quarter. Bourgeon Capital Management LLC now owns 28,279 shares of the basic materials company’s stock valued at $557,000 after buying an additional 7,300 shares in the last quarter. Harvest Management LLC bought a new position in Tronox during the 2nd quarter valued at approximately $541,000. Finally, Congress Asset Management Co. MA increased its position in Tronox by 21.6% during the 2nd quarter. Congress Asset Management Co. MA now owns 205,195 shares of the basic materials company’s stock valued at $4,038,000 after buying an additional 36,453 shares in the last quarter.
Tronox Company Profile (OTCMKTS:TROX)
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.
Featured Article: Dow Jones Industrial Average (DJIA)
Receive News & Ratings for Tronox Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tronox and related companies with MarketBeat.com's FREE daily email newsletter.