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

Tronox (NYSE:TROX) had its price target decreased by BMO Capital Markets from $22.00 to $21.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has an “outperform” rating on the stock. BMO Capital Markets’ target price points to a potential upside of 44.83% from the company’s current price.

TROX has been the topic of several other reports. Mizuho began coverage on Tronox in a report on Friday, June 7th. They set a “neutral” rating and a $22.00 target price on the stock. UBS Group decreased their target price on shares of Tronox from $19.00 to $18.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. The Goldman Sachs Group dropped their price objective on Tronox from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, September 19th. StockNews.com upgraded shares of Tronox from a “sell” rating to a “hold” rating in a research note on Monday, August 5th. Finally, Barclays lowered 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 research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $17.67.

Tronox Stock Performance

NYSE TROX remained flat at $14.50 during trading on Monday. 286,132 shares of the company’s stock were exchanged, compared to its average volume of 1,132,363. The company has a quick ratio of 1.08, a current ratio of 2.98 and a debt-to-equity ratio of 1.44. The company has a market capitalization of $2.29 billion, a PE ratio of -6.50, a PEG ratio of 25.62 and a beta of 1.64. Tronox has a 1 year low of $10.08 and a 1 year high of $20.70. The stock has a fifty day simple moving average of $13.68 and a 200-day simple moving average of $16.30.

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

Hedge Funds Weigh In On Tronox

Hedge funds have recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. bought a new stake in Tronox during the second quarter worth about $76,000. Headlands Technologies LLC bought a new stake in Tronox during the second quarter worth about $83,000. TFO Wealth Partners LLC grew its stake in shares of Tronox by 260,833.3% in the 4th quarter. TFO Wealth Partners LLC now owns 7,828 shares of the company’s stock worth $111,000 after buying an additional 7,825 shares during the last quarter. nVerses Capital LLC purchased a new position in shares of Tronox in the 2nd quarter worth about $121,000. Finally, SG Americas Securities LLC bought a new position in shares of Tronox in the first quarter worth approximately $124,000. 73.36% of the stock is currently 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.