Tronox (OTCMKTS:TROX) has been given a $35.00 target price by analysts at Alembic Global Advisors in a research note issued on Monday. The firm presently has a “buy” rating on the basic materials company’s stock. Alembic Global Advisors’ price target suggests a potential upside of 202.25% from the stock’s previous close.
TROX has been the topic of several other research reports. Zacks Investment Research cut Tronox from a “hold” rating to a “sell” rating in a research note on Thursday, August 9th. Morgan Stanley set a $16.00 price target on Tronox and gave the stock a “hold” rating in a research note on Tuesday, September 25th. SunTrust Banks started coverage on Tronox in a research note on Tuesday, July 31st. They issued a “buy” rating and a $24.00 price target on the stock. BMO Capital Markets cut their price target on Tronox to $13.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 2nd. Finally, Barclays cut 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 equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $23.60.
Shares of TROX traded up $0.27 during midday trading on Monday, reaching $11.58. 41,100 shares of the company were exchanged, compared to its average volume of 1,355,692. Tronox has a 1-year low of $10.75 and a 1-year high of $28.40.
In other Tronox news, Director Gregory Daniel Blue sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $15.66, for a total transaction of $156,600.00. Following the sale, the director now owns 69,795 shares in the company, valued at $1,092,989.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Jeffrey N. Neuman acquired 4,500 shares of the business’s stock in a transaction on Friday, August 3rd. The shares were purchased at an average price of $16.76 per share, for a total transaction of $75,420.00. The disclosure for this purchase can be found here.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Oppenheimer Asset Management Inc. acquired a new stake in Tronox during the third quarter valued at approximately $121,000. Quantum Capital Management acquired a new stake in Tronox during the second quarter valued at approximately $201,000. Verition Fund Management LLC acquired a new stake in Tronox during the first quarter valued at approximately $215,000. WINTON GROUP Ltd acquired a new stake in Tronox during the first quarter valued at approximately $256,000. Finally, Jane Street Group LLC raised its stake in Tronox by 215.2% during the second quarter. Jane Street Group LLC now owns 18,191 shares of the basic materials company’s stock valued at $358,000 after buying an additional 33,975 shares in the last quarter.
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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