Alembic Global analyst Hassan Ahmed maintained a Buy rating on TRONOX Ltd (TROX) yesterday and set a price target of $16. The company’s shares closed yesterday at $12.02.
Ahmed wrote:
“We believe the sell-off in Tronox shares is overdone. We expect TROX to outperform as mineral sands results continue to improve, pigment fundamentals normalize through 2019, and the Cristal acquisition is consummated by end-2018/early 2019. We expect Tronox’s share price to rise as a result of its Q4 EBITDA beat.”
According to TipRanks.com, Ahmed has currently no stars on a ranking scale of 0-5 stars, with an average return of -5.2% and a 35.8% success rate. Ahmed covers the Consumer Goods sector, focusing on stocks such as Westlake Chemical Corp, Venator Materials Plc, and LyondellBasell.
Currently, the analyst consensus on TRONOX Ltd is a Moderate Buy with an average price target of $12, implying a -0.2% downside from current levels. In a report issued on February 22, J.P. Morgan also maintained a Buy rating on the stock with a $17 price target.
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Based on TRONOX Ltd’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $456 million and net profit of $6 million. In comparison, last year the company earned revenue of $464 million and had a net profit of $0.
Based on the recent corporate insider activity of 55 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of TROX in relation to earlier this year.
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Tronox Ltd. engages in mining, production, and marketing of inorganic minerals, and chemicals. It operates through the Titanium Dioxide (TiO2) pigment segment which includes pigment production facilities located in: Hamilton, Mississippi; Botlek, the Netherlands; and Kwinana, Western Australia; and its mining operations in KwaZulu-Natal Sands and Namakwa Sands both located in South Africa and Cooljarloo located in Western Australia. The company was founded on September 21, 2011 and is headquartered in Stamford, CT.
