A Reversal for Tronox Limited (TROX) Is Near. The Formed Bullish Descending Triangle

June 22, 2018 - By Linda Rogers

Tronox Limited (NYSE:TROX) Logo

Investors sentiment decreased to 0.94 in Q1 2018. Its down 1.12, from 2.06 in 2017Q4. It worsened, as 37 investors sold Tronox Limited shares while 47 reduced holdings. 30 funds opened positions while 49 raised stakes. 80.97 million shares or 0.44% less from 81.33 million shares in 2017Q4 were reported.
20,979 are held by Bourgeon Capital Mgmt Ltd. Rhumbline Advisers holds 0% or 88,793 shares in its portfolio. Corsair Capital Limited Partnership accumulated 936,792 shares. Fmr Ltd owns 13.59 million shares for 0.03% of their portfolio. Kennedy Mngmt reported 423,901 shares stake. Raymond James Associate reported 0% stake. Parametric Assocs Ltd Llc has 0% invested in Tronox Limited (NYSE:TROX) for 188,342 shares. Creative Planning owns 154,389 shares. Financial Bank Of Montreal Can invested in 0% or 417 shares. Northern invested 0% in Tronox Limited (NYSE:TROX). First Mercantile Tru, Tennessee-based fund reported 23,483 shares. Jane Street Grp Ltd Liability Company accumulated 0% or 16,816 shares. Proshare Limited Liability Corp invested in 0% or 11,494 shares. Verition Fund Management Ltd Liability Corporation holds 0.02% or 11,669 shares in its portfolio. Messner Smith Theme Value Inv Mngmt Ltd Ca holds 2.74% in Tronox Limited (NYSE:TROX) or 89,778 shares.

The stock of Tronox Limited (TROX) formed a descending triangle with $20.88 target or 8.00 % above today’s $19.33 share price. The 9 months triangle pattern indicates low risk for the $2.37 billion company. If the $20.88 price target is reached, the company will be worth $189.44M more.
The descending triangle is in our view more reliable than the ascending one. The descending triangle pattern has break even failure rate for up and down breakouts of 7% and 16%, respectively. The average rise and decline is 47% and 16%. The throwback or so called pullback rates are: 37% and 54%. The stocks meeting their targets is high for this type of breakout: 84% and 54% percent.

The stock increased 3.31% or $0.62 during the last trading session, reaching $19.33. About 757,060 shares traded. Tronox Limited (NYSE:TROX) has risen 10.27% since June 22, 2017 and is uptrending. It has underperformed by 2.30% the S&P500.

Analysts await Tronox Limited (NYSE:TROX) to report earnings on August, 14. They expect $0.22 earnings per share, up 144.44 % or $0.13 from last year’s $0.09 per share. TROX’s profit will be $26.95 million for 21.97 P/E if the $0.22 EPS becomes a reality. After $0.01 actual earnings per share reported by Tronox Limited for the previous quarter, Wall Street now forecasts 2,100.00 % EPS growth.

Tronox Limited (NYSE:TROX) Ratings Coverage

Among 7 analysts covering Tronox (NYSE:TROX), 5 have Buy rating, 1 Sell and 1 Hold. Therefore 71% are positive. Tronox has $35.0 highest and $18 lowest target. $24.86’s average target is 28.61% above currents $19.33 stock price. Tronox had 7 analyst reports since January 25, 2018 according to SRatingsIntel. The firm has “Buy” rating given on Tuesday, March 27 by BMO Capital Markets. Barclays Capital maintained it with “Overweight” rating and $26 target in Monday, March 12 report. JP Morgan maintained the stock with “Overweight” rating in Thursday, January 25 report. As per Friday, March 2, the company rating was maintained by UBS. Wells Fargo initiated Tronox Limited (NYSE:TROX) rating on Wednesday, February 7. Wells Fargo has “Buy” rating and $28.0 target. The stock of Tronox Limited (NYSE:TROX) earned “Buy” rating by Alembic on Thursday, March 1.

Tronox Limited produces and markets titanium bearing mineral sands and titanium dioxide pigment in North America, Europe, South Africa, and the Asia-Pacific region. The company has market cap of $2.37 billion. It primarily operates in two divisions, TiO2 and Alkali. It currently has negative earnings. The TiO2 segment engages in the exploration, mining, and beneficiation of mineral sands deposits.

Tronox Limited (NYSE:TROX) Ratings Chart

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