Alembic Global Believes TRONOX Ltd (NYSE: TROX) Still Has Room to Grow

By Carrie Williams

In a report released today, Hassan Ahmed from Alembic Global reiterated a Buy rating on TRONOX Ltd (NYSE: TROX), with a price target of $23. The company’s shares closed on Friday at $19.42, close to its 52-week high of $20.20.

According to TipRanks.com, Ahmed is a 4-star analyst with an average return of 8.2% and a 73.9% success rate. Ahmed covers the Consumer Goods sector, focusing on stocks such as Westlake Chemical Corp, Westlake Chemical PRN, and DOW Chemical Company.

TRONOX Ltd has an analyst consensus of Moderate Buy, with a price target consensus of $23.

Based on TRONOX Ltd’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $569 million and GAAP net loss of $41 million. In comparison, last year the company earned revenue of $537 million and had a GAAP net loss of $50 million.

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Tronox Ltd. engages in mining, production, and marketing of inorganic minerals, and chemicals. It operates through TiO2, and Alkali segment. The TiO2 segment is used extensively in the manufacture of paint, and other coatings, plastics and paper, and in a wide range of other applications, including inks, fibers, rubber, food, cosmetics, and pharmaceuticals.