Tronox (NYSE:TROX) Given New $24.00 Price Target at BMO Capital Markets

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

A number of other brokerages also recently weighed in on TROX. UBS Group raised their price objective on Tronox from $13.00 to $14.00 and gave the company a neutral rating in a research report on Thursday, January 11th. StockNews.com upgraded shares of Tronox from a sell rating to a hold rating in a report on Friday, April 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $15.33.

Tronox Trading Down 1.8 %

Shares of NYSE TROX opened at $18.84 on Friday. The business’s 50 day moving average price is $16.59 and its 200-day moving average price is $14.22. Tronox has a fifty-two week low of $10.08 and a fifty-two week high of $19.75. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.95 and a current ratio of 2.84. The company has a market cap of $2.95 billion, a price-to-earnings ratio of -8.45, a PEG ratio of 25.36 and a beta of 1.91.

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

Tronox Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Monday, March 4th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 2.65%. The ex-dividend date was Friday, March 1st. Tronox’s dividend payout ratio is presently -22.42%.

Hedge Funds Weigh In On Tronox

Hedge funds have recently modified their holdings of the stock. Millburn Ridgefield Corp purchased a new stake in Tronox during the 3rd quarter worth approximately $25,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Tronox during the third quarter worth $25,000. GAMMA Investing LLC purchased a new stake in shares of Tronox during the fourth quarter valued at $27,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Tronox in the 3rd quarter valued at $50,000. Finally, TFO Wealth Partners LLC raised its stake in 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 acquiring an additional 7,825 shares during the last quarter. Institutional investors and hedge funds own 73.36% of the company’s stock.

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.