BMO Capital Markets Issues Pessimistic Forecast for Tronox (NYSE:TROX) Stock Price

Tronox (NYSE:TROX) had its price objective lowered by BMO Capital Markets from $21.00 to $17.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. BMO Capital Markets’ price objective points to a potential upside of 38.55% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. Barclays decreased their price target on Tronox from $18.00 to $16.00 and set an “overweight” rating for the company in a report on Monday. StockNews.com raised Tronox from a “sell” rating to a “hold” rating in a research report on Monday, August 5th. UBS Group raised Tronox from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $17.00 to $19.00 in a research report on Thursday, October 10th. Finally, The Goldman Sachs Group cut their price objective on Tronox from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, September 19th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $18.00.

Tronox Trading Up 1.5 %

NYSE TROX opened at $12.27 on Tuesday. The company has a market cap of $1.94 billion, a price-to-earnings ratio of -5.50, a P/E/G ratio of 26.03 and a beta of 1.64. Tronox has a 52 week low of $10.24 and a 52 week high of $20.70. The business has a 50 day moving average price of $13.45 and a 200-day moving average price of $15.82. 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 released its quarterly earnings data on Thursday, October 24th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of $0.17 by ($0.30). Tronox had a negative net margin of 2.40% and a negative return on equity of 3.91%. The firm had revenue of $804.00 million for the quarter, compared to the consensus estimate of $790.63 million. During the same quarter in the prior year, the firm earned ($0.08) EPS. The company’s revenue was up 21.5% compared to the same quarter last year. As a group, equities analysts expect that Tronox will post 0.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tronox

A number of institutional investors have recently added to or reduced their stakes in TROX. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Tronox during the 2nd quarter valued at about $76,000. Headlands Technologies LLC bought a new position in shares of Tronox during the 2nd quarter valued at about $83,000. nVerses Capital LLC bought a new position in shares of Tronox during the 2nd quarter valued at about $121,000. SG Americas Securities LLC bought a new position in shares of Tronox during the 1st quarter valued at about $124,000. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Tronox by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,232 shares of the company’s stock valued at $178,000 after purchasing an additional 861 shares during the last quarter. 73.36% of the stock is currently owned by institutional investors.

About Tronox

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.