Tronox (OTCMKTS:TROX) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report released 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. “
Other equities research analysts have also recently issued reports about the stock. BidaskClub cut shares of Tronox from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 28th. JPMorgan Chase & Co. reissued a “buy” rating and issued a $23.00 price target on shares of Tronox in a research report on Wednesday, December 6th. Alembic Global Advisors reissued a “buy” rating and issued a $35.00 price target on shares of Tronox in a research report on Monday, November 20th. Vertical Research initiated coverage on shares of Tronox in a research report on Monday, October 23rd. They issued a “buy” rating for the company. Finally, Barclays initiated coverage on shares of Tronox in a report on Thursday, December 14th. They issued an “overweight” rating and a $25.00 target price for the company. Two analysts have rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the company. Tronox currently has an average rating of “Buy” and an average target price of $25.25.
Tronox (OTCMKTS:TROX) last announced its quarterly earnings results on Wednesday, November 8th. The basic materials company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.15. The company had revenue of $435.00 million during the quarter, compared to analysts’ expectations of $436.92 million. During the same period last year, the firm earned ($0.34) earnings per share. Tronox’s revenue was up 28.3% on a year-over-year basis.
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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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