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

Tronox (NYSE:TROX) had its price objective raised by BMO Capital Markets from $19.00 to $24.00 in a research report released on Friday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other brokerages have also recently issued reports on TROX. UBS Group boosted their price objective on Tronox from $13.00 to $14.00 and gave the company a neutral rating in a report on Thursday, January 11th. StockNews.com raised 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 assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Hold and an average target price of $15.33.

Tronox Stock Performance

NYSE TROX traded down $0.34 during trading hours on Friday, reaching $18.84. The stock had a trading volume of 1,566,765 shares, compared to its average volume of 1,099,046. Tronox has a 52-week low of $10.08 and a 52-week high of $19.75. The stock has a fifty day moving average of $16.59 and a 200 day moving average of $14.18. 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 stock has a market cap of $2.95 billion, a P/E ratio of -8.45, a price-to-earnings-growth ratio of 25.82 and a beta of 1.91.

Tronox (NYSE:TROX) last released its quarterly earnings data on Wednesday, May 1st. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.06). Tronox had a negative net margin of 11.93% and a negative return on equity of 2.70%. The business had revenue of $774.00 million during the quarter, compared to analysts’ expectations of $753.98 million. During the same period last year, the company earned $0.15 earnings per share. The firm’s revenue was up 9.3% on a year-over-year basis. Sell-side analysts predict 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. Investors of record on Monday, March 4th were paid a $0.125 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $0.50 annualized dividend and a dividend yield of 2.65%. Tronox’s dividend payout ratio is presently -22.42%.

Hedge Funds Weigh In On Tronox

Institutional investors and hedge funds have recently modified their holdings of the business. Millburn Ridgefield Corp purchased a new stake in Tronox during the 3rd quarter worth approximately $25,000. Catalyst Capital Advisors LLC purchased a new stake in Tronox during the 3rd quarter worth approximately $25,000. GAMMA Investing LLC purchased a new stake in Tronox during the 4th quarter worth approximately $27,000. DekaBank Deutsche Girozentrale purchased a new stake in Tronox during the 3rd quarter worth approximately $50,000. Finally, TFO Wealth Partners LLC increased its stake in Tronox by 260,833.3% during 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 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.