Tronox (NYSE:TROX) Price Target Cut to $17.00 by Analysts at BMO Capital Markets

Tronox (NYSE:TROX - Get Free Report) had its price objective lowered by analysts at BMO Capital Markets from $21.00 to $17.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has an "outperform" rating on the stock. BMO Capital Markets' price target would suggest a potential upside of 40.61% from the company's previous close.

TROX has been the subject of a number of other research reports. The Goldman Sachs Group lowered their target price on shares of Tronox from $18.00 to $16.00 and set a "buy" rating for the company in a research note on Thursday, September 19th. StockNews.com raised shares of Tronox from a "sell" rating to a "hold" rating in a research note on Monday, August 5th. Barclays decreased their price target on shares of Tronox from $18.00 to $16.00 and set an "overweight" rating for the company in a research note on Monday. Finally, UBS Group raised shares of Tronox from a "neutral" rating to a "buy" rating and lifted their price target for the company from $17.00 to $19.00 in a research note on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Tronox has a consensus rating of "Moderate Buy" and an average target price of $18.00.

Tronox Trading Down 2.2 %

NYSE TROX traded down $0.27 during mid-day trading on Tuesday, reaching $12.09. 778,339 shares of the stock were exchanged, compared to its average volume of 1,122,232. Tronox has a one year low of $10.24 and a one year high of $20.70. The stock has a 50 day simple moving average of $13.47 and a 200-day simple moving average of $15.85. The stock has a market cap of $1.91 billion, a P/E ratio of -5.39, a P/E/G ratio of 26.03 and a beta of 1.64. The company has a debt-to-equity ratio of 1.44, a current ratio of 2.98 and a quick ratio of 1.08.

Tronox (NYSE:TROX - Get Free Report) last announced its earnings results on Thursday, October 24th. The company reported ($0.13) earnings per share for the quarter, missing analysts' consensus estimates 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 firm had revenue of $804.00 million for the quarter, compared to the consensus estimate of $790.63 million. During the same period in the prior year, the business earned ($0.08) EPS. Tronox's quarterly revenue was up 21.5% on a year-over-year basis. On average, analysts anticipate that Tronox will post 0.39 EPS for the current year.

Institutional Investors Weigh In On Tronox

Several hedge funds and other institutional investors have recently made changes to their positions in TROX. Allspring Global Investments Holdings LLC increased its position in shares of 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 acquiring an additional 861 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Tronox by 14.3% during the first quarter. Van ECK Associates Corp now owns 1,119,037 shares of the company's stock worth $19,415,000 after acquiring an additional 139,956 shares in the last quarter. Empowered Funds LLC boosted its holdings in Tronox by 8.3% during the first quarter. Empowered Funds LLC now owns 609,961 shares of the company's stock worth $10,583,000 after purchasing an additional 46,563 shares during the last quarter. SG Americas Securities LLC purchased a new position in Tronox during the first quarter worth about $124,000. Finally, ProShare Advisors LLC boosted its holdings 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 purchasing an additional 1,657 shares during the last quarter. 73.36% of the stock is 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.