Tronox’s (TROX) “Buy” Rating Reaffirmed at J P Morgan Chase & Co

J P Morgan Chase & Co restated their buy rating on shares of Tronox (OTCMKTS:TROX) in a report released on Wednesday morning. The firm currently has a $23.00 price target on the basic materials company’s stock.

Several other brokerages also recently issued reports on TROX. UBS raised their target price on shares of Tronox from $17.00 to $18.00 and gave the company a sell rating in a research note on Thursday, November 9th. Alembic Global Advisors reiterated a buy rating on shares of Tronox in a research note on Monday, October 23rd. BidaskClub upgraded shares of Tronox from a buy rating to a strong-buy rating in a research note on Friday, October 6th. Finally, Vertical Research assumed coverage on shares of Tronox in a research note on Monday, October 23rd. They issued a buy rating for the company. One research analyst has rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $25.33.

Tronox (OTCMKTS:TROX) last posted its quarterly earnings data on Wednesday, November 8th. The basic materials company reported $0.08 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.15. The business had revenue of $435.00 million for the quarter, compared to analyst estimates of $436.92 million. During the same quarter in the prior year, the company earned ($0.34) earnings per share. The company’s quarterly revenue was up 28.3% on a year-over-year basis.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Monday, November 20th were given a dividend of $0.045 per share. The ex-dividend date of this dividend was Friday, November 17th. This represents a $0.18 annualized dividend and a yield of Infinity.

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Tronox Company Profile

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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