Tronox (NYSE:TROX) Rating Increased to Strong-Buy at Zacks Investment Research

Tronox (NYSE:TROX) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Tuesday, Zacks.com reports. The firm currently has a $13.00 price target on the stock. Zacks Investment Research‘s target price would suggest a potential upside of 6.91% from the company’s current price.

According to Zacks, “Tronox Holdings plc is a vertically integrated mining and inorganic chemical business. The company mines and processes titanium ore, zircon and other minerals and manufactures titanium dioxide pigments to paints, plastics, paper and other everyday products. It operates primarily in South Africa, Australia, United States, the Netherlands and Australia. Tronox Holdings plc, formerly known as Tronox Limited, is based in London, United Kingdom. “

Several other analysts have also recently issued reports on TROX. Alembic Global Advisors reissued a “buy” rating and set a $19.00 price target on shares of Tronox in a research report on Monday, December 2nd. ValuEngine raised shares of Tronox from a “strong sell” rating to a “sell” rating in a research report on Tuesday, January 7th. Finally, TheStreet cut shares of Tronox from a “c-” rating to a “d+” rating in a research report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $16.67.

NYSE TROX traded up $0.18 during trading hours on Tuesday, reaching $12.16. The company had a trading volume of 31,855 shares, compared to its average volume of 1,176,205. The stock has a 50-day moving average of $11.31 and a 200 day moving average of $9.99. Tronox has a 1-year low of $6.71 and a 1-year high of $15.50. The company has a current ratio of 3.26, a quick ratio of 1.62 and a debt-to-equity ratio of 3.80. The stock has a market capitalization of $1.61 billion, a P/E ratio of 21.71 and a beta of 3.49.

Tronox (NYSE:TROX) last posted its earnings results on Thursday, November 7th. The company reported $0.21 EPS for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.06. Tronox had a negative net margin of 4.79% and a positive return on equity of 6.56%. The company had revenue of $768.00 million for the quarter, compared to analysts’ expectations of $797.64 million. During the same quarter in the prior year, the company posted $0.17 earnings per share. Tronox’s revenue for the quarter was up 68.4% compared to the same quarter last year. As a group, sell-side analysts predict that Tronox will post 0.45 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Maple Rock Capital Partners Inc. lifted its position in shares of Tronox by 6.5% during the third quarter. Maple Rock Capital Partners Inc. now owns 4,335,866 shares of the company’s stock worth $35,988,000 after purchasing an additional 264,094 shares in the last quarter. Private Capital Management LLC lifted its position in shares of Tronox by 10.8% during the third quarter. Private Capital Management LLC now owns 3,109,866 shares of the company’s stock worth $25,812,000 after purchasing an additional 303,548 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Tronox during the third quarter worth about $637,000. Quantum Capital Management acquired a new stake in shares of Tronox during the third quarter worth about $32,000. Finally, Equitable Trust Co. raised its holdings in Tronox by 15.4% in the third quarter. Equitable Trust Co. now owns 163,210 shares of the company’s stock valued at $1,355,000 after acquiring an additional 21,785 shares in the last quarter. 58.19% of the stock is currently owned by institutional investors and hedge funds.

About Tronox

Tronox Holdings plc engages in the mining, production, and marketing of inorganic minerals and chemicals in North America, South and Central America, Europe, the Middle East, Africa, and the Asia Pacific. It mines and processes titanium ore, zircon, and other minerals; and manufactures titanium dioxide pigments that add brightness and durability to paints, plastics, paper, and other everyday products.

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