Tronox (NYSE:TROX) Price Target Raised to $22.00

Tronox (NYSE:TROX) had its price target increased by The Goldman Sachs Group from $17.00 to $22.00 in a research report sent to investors on Monday, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

A number of other analysts have also commented on TROX. StockNews.com lowered Tronox from a hold rating to a sell rating in a research report on Saturday, May 4th. BMO Capital Markets boosted their target price on Tronox from $19.00 to $24.00 and gave the stock an outperform rating in a research report on Friday, May 3rd. Finally, UBS Group boosted their target price on Tronox from $13.00 to $14.00 and gave the stock a neutral rating in a research report on Thursday, January 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $16.29.

Tronox Stock Performance

Shares of NYSE:TROX opened at $19.19 on Monday. Tronox has a twelve month low of $10.08 and a twelve month high of $19.75. The firm has a market cap of $3.01 billion, a PE ratio of -8.61, a price-to-earnings-growth ratio of 25.36 and a beta of 1.91. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.09 and a current ratio of 3.12. The business has a fifty day moving average of $16.85 and a 200-day moving average of $14.37.

Tronox (NYSE:TROX) last announced 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 firm had revenue of $774.00 million during the quarter, compared to analyst estimates of $753.98 million. Tronox had a negative return on equity of 2.74% and a negative net margin of 11.93%. Tronox’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.15 earnings per share. On average, equities research analysts predict that Tronox will post 0.6 EPS for the current fiscal year.

Tronox Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Monday, May 20th will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 2.61%. The ex-dividend date of this dividend is Friday, May 17th. Tronox’s dividend payout ratio (DPR) is presently -22.42%.

Hedge Funds Weigh In On Tronox

Institutional investors have recently modified their holdings of the business. Massachusetts Financial Services Co. MA lifted its holdings in shares of Tronox by 42.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,210,243 shares of the company’s stock valued at $16,266,000 after purchasing an additional 361,727 shares in the last quarter. Deutsche Bank AG lifted its holdings in shares of Tronox by 2.5% during the 3rd quarter. Deutsche Bank AG now owns 132,869 shares of the company’s stock valued at $1,786,000 after purchasing an additional 3,238 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Tronox by 10.1% during the 3rd quarter. American Century Companies Inc. now owns 1,851,361 shares of the company’s stock valued at $24,882,000 after purchasing an additional 169,544 shares in the last quarter. Mesirow Institutional Investment Management Inc. lifted its holdings in shares of Tronox by 85.8% during the 3rd quarter. Mesirow Institutional Investment Management Inc. now owns 743,385 shares of the company’s stock valued at $9,991,000 after purchasing an additional 343,240 shares in the last quarter. Finally, First Eagle Investment Management LLC lifted its holdings in shares of Tronox by 371.6% during the 3rd quarter. First Eagle Investment Management LLC now owns 551,920 shares of the company’s stock valued at $7,418,000 after purchasing an additional 434,900 shares in the last quarter. Institutional investors 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.