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

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

A number of other research firms have also commented on TROX. StockNews.com raised Tronox from a sell rating to a hold rating in a report on Friday, April 26th. 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Tronox currently has an average rating of Hold and a consensus price target of $15.33.

Tronox Price Performance

NYSE TROX opened at $18.84 on Friday. The company has a quick ratio of 0.95, a current ratio of 2.84 and a debt-to-equity ratio of 1.41. The company has a market cap of $2.95 billion, a PE ratio of -8.45, a price-to-earnings-growth ratio of 25.36 and a beta of 1.91. Tronox has a 52 week low of $10.08 and a 52 week high of $19.75. The firm’s 50-day simple moving average is $16.59 and its two-hundred day simple moving average is $14.22.

Tronox (NYSE:TROX) last posted its quarterly earnings results on Wednesday, May 1st. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate 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 net margin of 11.93% and a negative return on equity of 2.70%. The business’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period last year, the firm earned $0.15 EPS. Research analysts predict that Tronox will post 0.6 earnings per share for the current year.

Tronox Announces Dividend

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

Hedge Funds Weigh In On Tronox

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Millburn Ridgefield Corp bought a new stake in shares of Tronox during the 3rd quarter worth $25,000. Catalyst Capital Advisors LLC bought a new position in Tronox during the third quarter valued at approximately $25,000. GAMMA Investing LLC purchased a new position in shares of Tronox during the fourth quarter worth approximately $27,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Tronox in the 3rd quarter worth approximately $50,000. Finally, TFO Wealth Partners LLC boosted 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 valued at $111,000 after purchasing an additional 7,825 shares in the last quarter. Hedge funds and other 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.