Zacks Investment Research Lowers Tronox (OTCMKTS:TROX) to Strong Sell

Tronox (OTCMKTS:TROX) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Thursday, January 11th.

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 analysts also recently weighed in on TROX. Vertical Research assumed coverage on Tronox in a research note on Monday, October 23rd. They set a “buy” rating on the stock. BidaskClub downgraded Tronox from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 28th. UBS Group lifted their price target on Tronox from $16.00 to $17.00 and gave the company a “sell” rating in a research report on Friday, October 13th. Alembic Global Advisors reiterated a “buy” rating and set a $35.00 price target on shares of Tronox in a research report on Monday, November 20th. Finally, JPMorgan Chase & Co. began coverage on Tronox in a report on Tuesday, October 24th. They issued an “overweight” rating on the stock. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $24.20.

Shares of Tronox (TROX) opened at $18.05 on Thursday. Tronox has a 12 month low of $12.52 and a 12 month high of $28.40.

Tronox (OTCMKTS:TROX) last released its earnings results on Wednesday, November 8th. The basic materials company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.15. The firm had revenue of $435.00 million for the quarter, compared to the consensus estimate of $436.92 million. During the same period in the prior year, the business earned ($0.34) EPS. The company’s quarterly revenue was up 28.3% on a year-over-year basis.

A hedge fund recently bought a new stake in Tronox stock. Public Employees Retirement Association of Colorado acquired a new position in Tronox Ltd (OTCMKTS:TROX) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 6,923 shares of the basic materials company’s stock, valued at approximately $142,000.

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About Tronox

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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