Notable Price Action: Could Tronox Ltd Change Direction After Reaching 52-Week High?

Notable Price Action: Could Tronox Ltd Change Direction After Reaching 52 Week High?

The stock of Tronox Ltd (NYSE:TROX) hit a new 52-week high and has $13.91 target or 28.00% above today’s $10.87 share price. The 5 months bullish chart indicates low risk for the $695.15 million company. The 1-year high was reported on Nov, 16 by If the $13.91 price target is reached, the company will be worth $194.64M 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 249,022 shares traded hands. Tronox Ltd (NYSE:TROX) has risen 60.21% since April 14, 2016 and is uptrending. It has outperformed by 55.52% 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. On Wednesday, April 6 the stock rating was downgraded by UBS to “Sell”. RBC Capital Markets maintained the shares of TROX in a report on Thursday, August 13 with “Outperform” rating. UBS maintained Tronox Ltd (NYSE:TROX) rating on Thursday, August 4. UBS has “Sell” rating and $3.75 price target. B. Riley & Co downgraded the shares of TROX in a report on Thursday, August 6 to “Neutral” rating.

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 decreased to 1.17 in 2016 Q2. Its down 0.02, from 1.19 in 2016Q1. The ratio worsened, 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.
First Mercantile holds 0.01% or 25,283 shares in its portfolio. National Bank Of Montreal Can accumulated 174 shares or 0% of the stock. Tower Capital Ltd Llc (Trc) has 11,849 shares for 0% of their US portfolio. The British Columbia – Canada-based Connor Clark & Lunn Limited has invested 0.02% in Tronox Ltd (NYSE:TROX). Kamunting Street Cap L P holds 1.28% of its portfolio in Tronox Ltd (NYSE:TROX) for 126,379 shares. Nationwide Fund Advsrs has 0% invested in the company for 47,450 shares. Gargoyle Invest Advisor Ltd Com accumulated 0.11% or 67,240 shares. Citigroup, a New York-based fund reported 51,409 shares. Prentiss Smith & Inc holds 0% of its portfolio in Tronox Ltd (NYSE:TROX) for 700 shares. Moreover, American International Grp Inc has 0% invested in Tronox Ltd (NYSE:TROX) for 37,127 shares. Jpmorgan Chase Company accumulated 0% or 1,681 shares. Walleye Trading Limited Co, a Minnesota-based fund reported 1,593 shares. Private Capital Management Limited Liability accumulated 2.43 million shares or 1.57% of the stock. Raymond James Associate holds 39,494 shares or 0% of its portfolio. Princeton Alpha Management L P has 0.01% invested in the company for 16,489 shares.

Another recent and important Tronox Ltd (NYSE:TROX) news was published by which published an article titled: “Moody’s Downgrades Tronox one notch to B2; Outlook Negative” on November 06, 2015.

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.

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