J P Morgan Chase & Co Begins Coverage on Tronox Ltd (NASDAQ:TROX)

Stock analysts at J P Morgan Chase & Co began coverage on shares of Tronox Ltd (NASDAQ:TROX) in a research report issued on Tuesday, October 24th, Marketbeat Ratings reports. The firm set an “overweight” rating on the stock.

Other research analysts have also issued research reports about the company. BidaskClub lowered Tronox from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 28th. 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, UBS AG raised their price objective on Tronox from $16.00 to $17.00 and gave the company a “sell” rating in a research report on Friday, October 13th. One analyst has rated the stock with a sell rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $18.00.

Shares of Tronox (TROX) opened at $26.80 on Tuesday.

Tronox (NASDAQ:TROX) last announced its earnings results on Wednesday, November 8th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.15. The firm had revenue of $435.00 million during the quarter, compared to the consensus estimate of $436.92 million. During the same period in the prior year, the company posted ($0.34) EPS. The firm’s revenue was up 28.3% on a year-over-year basis.

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In other news, SVP Jogita Khilnani sold 5,000 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $20.78, for a total value of $103,900.00. Following the transaction, the senior vice president now directly owns 29,405 shares in the company, valued at approximately $611,035.90. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Niekerk Willem Hendrik Van sold 12,229 shares of the firm’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $20.70, for a total value of $253,140.30. Following the completion of the transaction, the senior vice president now owns 175,528 shares in the company, valued at $3,633,429.60. The disclosure for this sale can be found here.

Several hedge funds have recently added to or reduced their stakes in the company. FMR LLC boosted its stake in shares of Tronox by 195.5% in the 2nd quarter. FMR LLC now owns 9,696,579 shares of the company’s stock worth $146,612,000 after buying an additional 6,415,494 shares during the last quarter. Vanguard Group Inc. lifted its position in Tronox by 4.9% during the second quarter. Vanguard Group Inc. now owns 5,314,573 shares of the company’s stock valued at $80,356,000 after purchasing an additional 247,582 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Tronox by 17.9% during the second quarter. Dimensional Fund Advisors LP now owns 4,938,627 shares of the company’s stock valued at $74,668,000 after purchasing an additional 750,290 shares in the last quarter. Fine Capital Partners L.P. lifted its position in Tronox by 19.8% during the second quarter. Fine Capital Partners L.P. now owns 4,526,988 shares of the company’s stock valued at $68,448,000 after purchasing an additional 749,410 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in Tronox by 25.6% during the second quarter. Goldman Sachs Group Inc. now owns 3,172,642 shares of the company’s stock valued at $47,970,000 after purchasing an additional 646,598 shares in the last quarter.

Tronox Company Profile

Tronox Limited produces and markets titanium bearing mineral sands and titanium dioxide (TiO2) pigment in North America, Europe, South Africa, and the Asia-Pacific region. It primarily operates in two segments, TiO2 and Alkali. The TiO2 segment engages in the exploration, mining, and beneficiation of mineral sands deposits.

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