Alembic Global Thinks TRONOX’s Stock is Going to Recover

Brian Anderson - TipRanks - Tue Jul 5, 2022

In a report released today, Hassan Ahmed from Alembic Global reiterated a Buy rating on TRONOX (TROX – Research Report), with a price target of $27.00. The companys shares closed last Friday at $16.66, close to its 52-week low of $15.38.

According to TipRanks.com, Ahmed is a 5-star analyst with an average return of 8.1% and a 47.8% success rate. Ahmed covers the Basic Materials sector, focusing on stocks such as Air Products and Chemicals, Westlake Chemical, and Venator Materials.

TRONOX has an analyst consensus of Strong Buy, with a price target consensus of $25.33, a 52.4% upside from current levels. In a report issued on June 21, BMO Capital also maintained a Buy rating on the stock with a $28.00 price target.

See the top stocks recommended by analysts >> Based on TRONOXs latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $965 million and net profit of $16 million. In comparison, last year the company earned revenue of $891 million and had a net profit of $19 million. Based on the recent corporate insider activity of 31 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. TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities. 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. Read More on TROX: