Alembic Global Keeps Their Buy Rating on TRONOX Ltd (TROX)

By Ryan Adsit

In a report released yesterday, Hassan Ahmed from Alembic Global reiterated a Buy rating on TRONOX Ltd (TROXResearch Report), with a price target of $19. The company’s shares closed yesterday at $9.

Ahmed wrote:

“We believe much of this earnings beat came on the back of volume strength within TiO 2 and zircon.”

According to TipRanks.com, Ahmed is ranked 0 out of 5 stars with an average return of -10.8% and a 28.4% 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 $16.67.

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Based on TRONOX Ltd’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $390 million and GAAP net loss of $34 million. In comparison, last year the company earned revenue of $492 million and had a net profit of $36 million.

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 Holdings Plc engages in the mining and inorganic chemical business. Its products include Titanium Dioxide Mineral Sands. The firm also mines and processes titanium ore, zircon and other minerals, and manufactures titanium dioxide pigments. The company was founded in March 2012 and is headquartered in Stamford, CT.