Price Action to Note: Is Buying Tronox Ltd Here a Winning Strategy?

Price Action to Note: Is Buying Tronox Ltd Here a Winning Strategy?

The stock of Tronox Ltd (NYSE:TROX) hit a new 52-week high and has $17.95 target or 67.00% above today’s $10.75 share price. The 6 months bullish chart indicates low risk for the $669.09 million company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $17.95 price target is reached, the company will be worth $448.29M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 304,334 shares traded hands. Tronox Ltd (NYSE:TROX) has risen 45.67% since April 19, 2016 and is uptrending. It has outperformed by 41.81% the S&P500.

Tronox Ltd (NYSE:TROX) Ratings Coverage

Out of 2 analysts covering Tronox (NYSE:TROX), 1 rate it a “Buy”, 1 “Sell”, while 0 “Hold”. This means 50% are positive. Tronox has been the topic of 5 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The rating was maintained by UBS on Thursday, August 4 with “Sell”. As per Wednesday, April 6, the company rating was downgraded by UBS. The rating was downgraded by B. Riley & Co on Thursday, August 6 to “Neutral”. The firm has “Outperform” rating by RBC Capital Markets given on Thursday, August 13.

According to Zacks Investment Research, “Tronox Incorporated is a producer and marketer of titanium products. Products offered by the Company includes: titanium ore and titanium dioxide (TiO2); mineral sands products; and electrolytic and speciality chemicals. Titanium products offered by Tronox find its application in paints, coatings and plastics. The electrolytic and specialty chemicals find s application in the paper and battery industries. Tronox’s mineral sands operations consist of two product streams – titanium feedstock, which includes ilmenite, natural rutile, titanium slag and synthetic rutile; and zircon, which is contained in the mineral sands extracted to capture natural titanium feedstock. Tronox operates three separate mining operations: KZN Sands and Namakwa Sands located in South Africa and Perth in Western Australia. Production of electrolytic and specialty chemicals is carried out in United States. Tronox Incorporated is based in Oklahoma City, Oklahoma.”

Insitutional Activity: The institutional sentiment increased to 1.23 in 2016 Q2. Its up 0.06, from 1.17 in 2016Q1. The ratio improved, as 21 funds sold all Tronox Ltd shares owned while 31 reduced positions. 23 funds bought stakes while 38 increased positions. They now own 60.21 million shares or 3.04% less from 62.10 million shares in 2016Q1.
Morgan Stanley accumulated 0% or 25,221 shares. Credit Agricole S A last reported 0% of its portfolio in the stock. Ny State Common Retirement Fund last reported 0% of its portfolio in the stock. Spark Inv Lc accumulated 474,600 shares or 0.2% of the stock. Savings Bank Of New York Mellon Corp reported 265,072 shares or 0% of all its holdings. American International Gru Incorporated has 0% invested in the company for 37,127 shares. Caxton Assocs Limited Partnership accumulated 625,000 shares or 0.08% of the stock. Moreover, Fincl Bank Of Montreal Can has 0% invested in Tronox Ltd (NYSE:TROX) for 174 shares. Bluemountain Capital Mngmt Ltd Liability Co accumulated 2.11 million shares or 0.22% of the stock. Moreover, Aristeia Ltd Liability Corporation has 0.29% invested in Tronox Ltd (NYSE:TROX) for 810,929 shares. Northern Corp has 687,124 shares for 0% of their US portfolio. Los Angeles Cap Management And Equity Rech has invested 0% of its portfolio in Tronox Ltd (NYSE:TROX). The California-based Blackrock Institutional Tru Communications Na has invested 0% in Tronox Ltd (NYSE:TROX). Bogle Investment Management L P De holds 0.01% of its portfolio in Tronox Ltd (NYSE:TROX) for 21,311 shares. First Manhattan, a New York-based fund reported 350 shares.

More news for Tronox Ltd (NYSE:TROX) were recently published by: Moodys.com, which released: “Moody’s Downgrades Tronox one notch to B2; Outlook Negative” on November 06, 2015. Reuters.com‘s article titled: “BRIEF-Tronox Ltd says CFO Katherine Harper to leave” and published on July 15, 2016 is yet another important article.

TROX Company Profile

Tronox Limited, incorporated on September 21, 2011, is engaged in the production and marketing of titanium bearing mineral sands and titanium dioxide (TiO2) pigment. The Firm also produces natural soda ash. The Firm operates through two divisions: TiO2 and Alkali. The Company’s TiO2 operating segment includes exploration, mining, and beneficiation of mineral sands deposits; production of titanium feedstock (including chloride slag, slag fines, and rutile), pig iron and zircon; production and marketing of TiO2, and electrolytic manganese dioxide manufacturing and marketing, which is primarily focused on battery materials and specialty boron products. The Company’s Alkali operating segment includes dry mining of trona ore underground; secondary recovery of trona from previously dry mined areas underground; refining of raw trona ore into soda ash and specialty sodium alkali products, and marketing, sale and distribution of alkali products.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Tags: , ,

Leave a Comment