Tronox (NYSE:TROX) Given New $17.00 Price Target at BMO Capital Markets

Tronox (NYSE:TROX) had its target price trimmed by BMO Capital Markets from $21.00 to $17.00 in a report issued on Tuesday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other brokerages have also recently issued reports on TROX. StockNews.com raised shares of Tronox from a “sell” rating to a “hold” rating in a research note on Monday, August 5th. The Goldman Sachs Group dropped their target price on shares of Tronox from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, September 19th. UBS Group raised shares of Tronox from a “neutral” rating to a “buy” rating and increased their price objective for the company from $17.00 to $19.00 in a research report on Thursday, October 10th. Finally, Barclays reduced their price objective on Tronox from $18.00 to $16.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $18.00.

Tronox Trading Down 1.0 %

Shares of Tronox stock opened at $12.00 on Tuesday. Tronox has a 12-month low of $10.66 and a 12-month high of $20.70. The firm’s 50 day simple moving average is $13.39 and its two-hundred day simple moving average is $15.77. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.08 and a current ratio of 2.72.

Tronox (NYSE:TROX) last posted its quarterly earnings results on Thursday, October 24th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.30). Tronox had a negative return on equity of 3.91% and a negative net margin of 2.40%. The business had revenue of $804.00 million during the quarter, compared to analysts’ expectations of $790.63 million. During the same period in the prior year, the business posted ($0.08) earnings per share. The business’s quarterly revenue was up 21.5% on a year-over-year basis. As a group, analysts expect that Tronox will post -0.04 earnings per share for the current fiscal year.

Tronox Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, November 11th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.50 dividend on an annualized basis and a yield of 4.17%. Tronox’s payout ratio is presently -104.16%.

Institutional Investors Weigh In On Tronox

Several large investors have recently made changes to their positions in TROX. Allspring Global Investments Holdings LLC boosted its position in Tronox by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 10,232 shares of the company’s stock worth $178,000 after purchasing an additional 861 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in Tronox by 4.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 25,065 shares of the company’s stock worth $393,000 after acquiring an additional 1,014 shares in the last quarter. ProShare Advisors LLC raised its stake in Tronox by 8.5% during the first quarter. ProShare Advisors LLC now owns 21,049 shares of the company’s stock worth $365,000 after acquiring an additional 1,657 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Tronox by 5.0% during the second quarter. The Manufacturers Life Insurance Company now owns 45,701 shares of the company’s stock worth $717,000 after acquiring an additional 2,180 shares in the last quarter. Finally, nVerses Capital LLC grew its holdings in shares of Tronox by 35.1% during the third quarter. nVerses Capital LLC now owns 10,400 shares of the company’s stock worth $152,000 after purchasing an additional 2,700 shares during 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.