Tronox (TROX) Now Covered by Barclays
Barclays assumed coverage on shares of Tronox (OTCMKTS:TROX) in a research note published on Thursday morning, Marketbeat Ratings reports. The firm issued an overweight rating and a $25.00 target price on the basic materials company’s stock.
Several other research firms also recently issued reports on TROX. UBS upped their target price on Tronox from $17.00 to $18.00 and gave the company a sell rating in a research report on Thursday, November 9th. Alembic Global Advisors reissued a buy rating on shares of Tronox in a research report on Monday, October 23rd. J P Morgan Chase & Co reissued a buy rating and issued a $23.00 target price on shares of Tronox in a research report on Wednesday, December 6th. BidaskClub raised Tronox from a buy rating to a strong-buy rating in a research report on Friday, October 6th. Finally, Vertical Research initiated coverage on Tronox in a research report on Monday, October 23rd. They issued a buy rating on the stock. One research analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $25.25.
Tronox (OTCMKTS:TROX) last issued its quarterly earnings data on Wednesday, November 8th. The basic materials company reported $0.08 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.15. The business had revenue of $435.00 million for the quarter, compared to analysts’ expectations of $436.92 million. During the same quarter in the prior year, the company posted ($0.34) EPS. The business’s revenue for the quarter was up 28.3% on a year-over-year basis.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Monday, November 20th were given a dividend of $0.045 per share. This represents a $0.18 dividend on an annualized basis and a dividend yield of Infinity. The ex-dividend date was Friday, November 17th.
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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