Tronox (OTCMKTS:TROX) Price Target Lowered to $28.00 at BMO Capital Markets

Tronox (OTCMKTS:TROX) had its target price decreased by equities research analysts at BMO Capital Markets from $31.00 to $28.00 in a research note issued on Tuesday, August 7th. The brokerage presently has an “outperform” rating on the basic materials company’s stock. BMO Capital Markets’ price target indicates a potential upside of 72.95% from the stock’s current price.

Other equities analysts have also issued reports about the company. Zacks Investment Research upgraded Tronox from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research note on Tuesday, April 17th. MED restated a “buy” rating and set a $35.00 price target on shares of Tronox in a research note on Thursday, May 10th. SunTrust Banks started coverage on Tronox in a research note on Tuesday, July 31st. They set a “buy” rating and a $24.00 price target on the stock. Finally, Barclays lowered their price target on Tronox to $24.00 and set an “overweight” rating on the stock in a research note on Monday, August 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Tronox currently has a consensus rating of “Buy” and an average target price of $25.60.

OTCMKTS TROX traded up $0.18 during trading on Tuesday, hitting $16.19. 648,723 shares of the company traded hands, compared to its average volume of 1,303,374. Tronox has a 12 month low of $13.50 and a 12 month high of $28.40.

Tronox (OTCMKTS:TROX) last posted 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 business had revenue of $492.00 million during the quarter, compared to the consensus estimate of $497.24 million. The company’s revenue for the quarter was up 16.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.16) earnings per share.

In other Tronox news, CEO Jeffry N. Quinn bought 12,000 shares of the company’s stock in a transaction on Friday, August 3rd. The stock was bought at an average price 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 approximately $2,917,669.07. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Jeffrey N. Neuman bought 4,500 shares of the company’s stock in a transaction on Friday, August 3rd. The shares were acquired at an average price of $16.76 per share, with a total value of $75,420.00. The disclosure for this purchase can be found here.

Several institutional investors and hedge funds have recently added to or reduced their stakes in TROX. Point72 Asset Management L.P. boosted its stake in Tronox by 125.7% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,219,480 shares of the basic materials company’s stock worth $23,999,000 after purchasing an additional 679,161 shares during the period. Luminus Management LLC boosted its stake in Tronox by 38.0% in the 2nd quarter. Luminus Management LLC now owns 1,870,683 shares of the basic materials company’s stock worth $36,815,000 after purchasing an additional 514,908 shares during the period. Farallon Capital Management LLC boosted its stake in Tronox by 263.3% in the 1st quarter. Farallon Capital Management LLC now owns 688,006 shares of the basic materials company’s stock worth $12,687,000 after purchasing an additional 498,631 shares during the period. BlackRock Inc. boosted its stake in Tronox by 7.6% in the 2nd quarter. BlackRock Inc. now owns 6,203,333 shares of the basic materials company’s stock worth $122,083,000 after purchasing an additional 440,398 shares during the period. Finally, Neuberger Berman Group LLC boosted its stake in Tronox by 3,971.3% in the 1st quarter. Neuberger Berman Group LLC now owns 404,814 shares of the basic materials company’s stock worth $7,465,000 after purchasing an additional 394,871 shares during the period.

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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