Tronox (NYSE:TROX) Price Target Raised to $24.00 at BMO Capital Markets

Tronox (NYSE:TROX) had its target price lifted by BMO Capital Markets from $19.00 to $24.00 in a research note released on Friday, Benzinga reports. They currently have an outperform rating on the stock.

Other research analysts have also recently issued reports about the stock. UBS Group increased their price target on shares of Tronox from $13.00 to $14.00 and gave the stock a neutral rating in a report on Thursday, January 11th. StockNews.com raised Tronox from a sell rating to a hold rating in a research note on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $15.33.

Tronox Stock Performance

Shares of TROX stock traded down $0.34 during midday trading on Friday, hitting $18.84. The company had a trading volume of 1,566,765 shares, compared to its average volume of 1,099,046. Tronox has a 52-week low of $10.08 and a 52-week high of $19.75. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.84 and a quick ratio of 0.95. The company’s 50 day simple moving average is $16.59 and its 200 day simple moving average is $14.18. The stock has a market cap of $2.95 billion, a price-to-earnings ratio of -8.45, a PEG ratio of 25.82 and a beta of 1.91.

Tronox (NYSE:TROX) last posted its quarterly earnings data on Wednesday, May 1st. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.06). The firm had revenue of $774.00 million during the quarter, compared to analysts’ expectations of $753.98 million. Tronox had a negative net margin of 11.93% and a negative return on equity of 2.70%. The business’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the business earned $0.15 earnings per share. Research analysts anticipate that Tronox will post 0.6 earnings per share for the current fiscal year.

Tronox Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Monday, March 4th were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.65%. Tronox’s payout ratio is -22.42%.

Hedge Funds Weigh In On Tronox

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Millburn Ridgefield Corp purchased a new position in Tronox during the 3rd quarter valued at about $25,000. Catalyst Capital Advisors LLC purchased a new position in Tronox during the 3rd quarter valued at about $25,000. GAMMA Investing LLC purchased a new position in Tronox during the 4th quarter valued at about $27,000. DekaBank Deutsche Girozentrale purchased a new position in Tronox during the 3rd quarter valued at about $50,000. Finally, TFO Wealth Partners LLC increased its holdings in Tronox by 260,833.3% during the 4th quarter. TFO Wealth Partners LLC now owns 7,828 shares of the company’s stock valued at $111,000 after acquiring an additional 7,825 shares in the last quarter. 73.36% of the stock is owned by institutional investors and hedge funds.

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.