BMO Capital Markets Cuts Tronox (NYSE:TROX) Price Target to $21.00

Tronox (NYSE:TROX) had its target price trimmed by BMO Capital Markets from $22.00 to $21.00 in a report released on Monday, Benzinga reports. The firm currently has an outperform rating on the stock.

Several other analysts also recently weighed in on the stock. The Goldman Sachs Group dropped their target price on shares of Tronox from $18.00 to $16.00 and set a buy rating for the company in a report on Thursday, September 19th. Mizuho initiated coverage on Tronox in a research note on Friday, June 7th. They issued a neutral rating and a $22.00 price objective for the company. StockNews.com raised Tronox from a sell rating to a hold rating in a research note on Monday, August 5th. UBS Group dropped their target price on Tronox from $19.00 to $18.00 and set a neutral rating for the company in a research report on Tuesday, July 9th. Finally, Barclays reduced their price target on shares of Tronox from $19.00 to $18.00 and set an overweight rating on the stock in a research report on Wednesday, September 25th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Tronox currently has a consensus rating of Hold and an average price target of $17.67.

Tronox Price Performance

TROX stock opened at $14.51 on Monday. Tronox has a 52-week low of $10.08 and a 52-week high of $20.70. The business has a fifty day moving average of $13.61 and a two-hundred day moving average of $16.28. The stock has a market cap of $2.29 billion, a price-to-earnings ratio of -6.51, a price-to-earnings-growth ratio of 27.07 and a beta of 1.64. The company has a quick ratio of 1.08, a current ratio of 2.98 and a debt-to-equity ratio of 1.44.

Tronox (NYSE:TROX) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.11). Tronox had a negative net margin of 2.14% and a negative return on equity of 3.40%. The company had revenue of $820.00 million during the quarter, compared to analysts’ expectations of $848.04 million. During the same quarter last year, the firm posted $0.16 earnings per share. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. As a group, research analysts anticipate that Tronox will post 0.44 earnings per share for the current year.

Tronox Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Monday, August 26th were paid a $0.125 dividend. The ex-dividend date was Monday, August 26th. This represents a $0.50 dividend on an annualized basis and a yield of 3.45%. Tronox’s dividend payout ratio is currently -22.42%.

Institutional Investors Weigh In On Tronox

A number of large investors have recently modified their holdings of TROX. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Tronox during the 2nd quarter worth about $76,000. Headlands Technologies LLC purchased a new stake in Tronox during the second quarter worth approximately $83,000. TFO Wealth Partners LLC boosted its holdings in Tronox by 260,833.3% in the fourth quarter. TFO Wealth Partners LLC now owns 7,828 shares of the company’s stock valued at $111,000 after purchasing an additional 7,825 shares in the last quarter. nVerses Capital LLC purchased a new position in Tronox in the second quarter valued at approximately $121,000. Finally, SG Americas Securities LLC acquired a new stake in Tronox during the first quarter worth approximately $124,000. 73.36% of the stock is owned by hedge funds and other institutional investors.

Tronox Company Profile

Tronox Holdings plc operates as a vertically integrated manufacturer of TiO2 pigment in North America, South and Central America, Europe, the Middle East, Africa, and the Asia Pacific. The company operates titanium-bearing mineral sand mines; and engages in beneficiation and smelting operations. It offers TiO2 pigment; ultrafine specialty TiO2; zircon; feedstock; pig iron; monazite; titanium tetrachloride; and other products.