Chemours Company (CC) Received its Third Buy in a Row

After BMO Capital and RBC Capital gave Chemours Company (NYSE: CC) a Buy rating last month, the company received another Buy, this time from Alembic Global. Analyst Hassan Ahmed reiterated a Buy rating on Chemours Company today and set a price target of $46.00. The company’s shares closed last Thursday at $32.93.

According to TipRanks.com, Ahmed is a 4-star analyst with an average return of 9.8% and a 48.1% success rate. Ahmed covers the Basic Materials sector, focusing on stocks such as Westlake Chemical, Venator Materials, and LyondellBasell.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Chemours Company with a $39.92 average price target, which is a 21.4% upside from current levels. In a report issued on July 21, RBC Capital also maintained a Buy rating on the stock with a $35.00 price target.

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Chemours Company’s market cap is currently $5.4B and has a P/E ratio of 25.00. The company has a Price to Book ratio of 7.78.

Based on the recent corporate insider activity of 46 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CC in relation to earlier this year.

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The Chemours Co. is a holding company, which engages in the provision of performance chemicals. It operates through the following segments: Titanium Technologies, Fluoroproducts and Chemical Solutions. The Titanium Technologies segment produces titanium dioxide. The Fluoroproducts segment supplies refrigerants and industrial fluoropolymer resins. The Chemical Solutions segment provides chemicals used in gold production, oil refining, agriculture, and industrial polymers. The firm offers refrigerants, industrial fluoropolymer resins, sodium cyanide, performance chemicals and intermediates, and titanium dioxide pigments to the plastics and coatings, refrigeration and air conditioning, general industrial, electronics, mining, and oil refining markets. The company was founded on February 18, 2014 and is headquartered in Wilmington, Delaware.

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