BMO Capital Markets Issues Pessimistic Forecast for Tronox (NYSE:TROX) Stock Price

Tronox (NYSE:TROX) had its target price dropped by stock analysts at BMO Capital Markets from $21.00 to $17.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ target price would suggest a potential upside of 38.55% from the stock’s previous close.

TROX has been the subject of several other research reports. Barclays reduced their target price on shares of Tronox from $18.00 to $16.00 and set an “overweight” rating for the company in a report on Monday. The Goldman Sachs Group reduced their target price on shares of Tronox from $18.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, September 19th. StockNews.com upgraded shares of Tronox from a “sell” rating to a “hold” rating in a research note on Monday, August 5th. Finally, UBS Group upgraded shares of Tronox from a “neutral” rating to a “buy” rating and increased their price target for the company from $17.00 to $19.00 in a research note on Thursday, October 10th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

Tronox Stock Up 1.5 %

Shares of TROX stock opened at $12.27 on Tuesday. The firm has a fifty day moving average of $13.45 and a 200-day moving average of $15.82. The company has a quick ratio of 1.08, a current ratio of 2.98 and a debt-to-equity ratio of 1.44. Tronox has a 12-month low of $10.24 and a 12-month high of $20.70. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of -5.50, a P/E/G ratio of 26.03 and a beta of 1.64.

Tronox (NYSE:TROX) last announced its earnings results on Thursday, October 24th. The company reported ($0.13) EPS 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 for the quarter, compared to analyst estimates of $790.63 million. During the same quarter in the previous year, the company posted ($0.08) EPS. The business’s revenue for the quarter was up 21.5% compared to the same quarter last year. As a group, equities research analysts predict that Tronox will post 0.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tronox

Hedge funds have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. bought a new position in Tronox during the second quarter worth about $76,000. Headlands Technologies LLC bought a new position in Tronox in the second quarter valued at approximately $83,000. nVerses Capital LLC bought a new position in Tronox in the second quarter valued at about $121,000. SG Americas Securities LLC bought a new position in Tronox in the first quarter valued at about $124,000. Finally, Allspring Global Investments Holdings LLC grew its position in Tronox by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 10,232 shares of the company’s stock valued at $178,000 after acquiring an additional 861 shares during the last quarter. 73.36% of the stock is owned by institutional investors.

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.