Tronox (OTCMKTS:TROX) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Thursday.
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. “
Several other equities analysts also recently weighed in on TROX. BidaskClub downgraded Tronox from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 28th. Alembic Global Advisors reissued a “buy” rating and set a $35.00 price target on shares of Tronox in a research report on Monday, November 20th. UBS Group raised their price objective on Tronox from $16.00 to $17.00 and gave the stock a “sell” rating in a report on Friday, October 13th. Barclays started coverage on Tronox in a report on Thursday, December 14th. They set an “overweight” rating and a $25.00 price objective on the stock. Finally, Vertical Research started coverage on Tronox in a report on Monday, October 23rd. They set a “buy” rating on the stock. Two analysts have rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $25.25.
Tronox (OTCMKTS:TROX) last released its quarterly earnings results on Wednesday, November 8th. The basic materials company reported $0.08 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.15. The company had revenue of $435.00 million for the quarter, compared to analysts’ expectations of $436.92 million. The business’s quarterly revenue was up 28.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.34) EPS.
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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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