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

Tronox (NYSE:TROX) had its target price lowered by BMO Capital Markets from $22.00 to $21.00 in a research report issued on Monday, Benzinga reports. The firm presently has an “outperform” rating on the stock. BMO Capital Markets’ target price suggests a potential upside of 49.68% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. Mizuho assumed coverage on shares of Tronox in a research note on Friday, June 7th. They issued a “neutral” rating and a $22.00 price target for the company. The Goldman Sachs Group dropped their target price on shares of Tronox from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, September 19th. StockNews.com upgraded shares of Tronox from a “sell” rating to a “hold” rating in a report on Monday, August 5th. Barclays dropped their price target on shares of Tronox from $19.00 to $18.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 25th. Finally, UBS Group dropped their price target on shares of Tronox from $19.00 to $18.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $17.67.

Tronox Stock Down 4.1 %

TROX opened at $14.03 on Monday. Tronox has a fifty-two week low of $10.08 and a fifty-two week high of $20.70. The company has a debt-to-equity ratio of 1.44, a current ratio of 2.98 and a quick ratio of 1.08. The company’s 50-day moving average is $13.65 and its 200 day moving average is $16.29. The firm has a market capitalization of $2.22 billion, a P/E ratio of -6.30, a PEG ratio of 27.07 and a beta of 1.64.

Tronox (NYSE:TROX) last issued its earnings results on Thursday, August 1st. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.11). The business had revenue of $820.00 million for 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 company’s revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.16 EPS. Research analysts expect that Tronox will post 0.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tronox

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Tronox during the second quarter worth $76,000. Algert Global LLC grew its position in shares of Tronox by 127.2% in the second quarter. Algert Global LLC now owns 309,051 shares of the company’s stock valued at $4,849,000 after purchasing an additional 173,054 shares during the period. Driehaus Capital Management LLC grew its position in shares of Tronox by 109.3% in the second quarter. Driehaus Capital Management LLC now owns 2,646,916 shares of the company’s stock valued at $41,530,000 after purchasing an additional 1,381,975 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Tronox in the second quarter valued at about $325,000. Finally, Lighthouse Investment Partners LLC acquired a new position in Tronox during the second quarter worth about $574,000. 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.