BMO Capital Markets Downgrades Tronox (NYSE:TROX) to Underperform

Tronox (NYSE:TROX) was downgraded by investment analysts at BMO Capital Markets from a “market perform” rating to an “underperform” rating in a research note issued to investors on Monday, MarketBeat.com reports. They presently have a $3.00 price objective on the stock. BMO Capital Markets’ target price indicates a potential downside of 47.09% from the company’s previous close.

A number of other research analysts have also recently commented on the company. Morgan Stanley decreased their price target on Tronox from $12.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Monday, May 5th. The Goldman Sachs Group decreased their target price on Tronox from $11.50 to $7.50 and set a “buy” rating on the stock in a research note on Tuesday, May 6th. Wall Street Zen downgraded Tronox from a “hold” rating to a “sell” rating in a research report on Monday, May 5th. Truist Financial cut their price target on shares of Tronox from $14.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Finally, Mizuho lowered their price objective on shares of Tronox from $11.00 to $9.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. Two analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $7.63.

Tronox Trading Up 0.7%

Shares of Tronox stock opened at $5.67 on Monday. The stock has a 50 day moving average of $5.44 and a 200 day moving average of $7.31. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.61 and a current ratio of 2.28. The firm has a market capitalization of $898.47 million, a price-to-earnings ratio of -5.97 and a beta of 1.42. Tronox has a fifty-two week low of $4.35 and a fifty-two week high of $17.45.

Tronox (NYSE:TROX) last announced its quarterly earnings results on Wednesday, April 30th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.17). Tronox had a negative net margin of 4.94% and a negative return on equity of 1.57%. The business had revenue of $738.00 million during the quarter, compared to analyst estimates of $745.96 million. During the same period last year, the company earned ($0.05) EPS. The business’s revenue for the quarter was down 4.7% on a year-over-year basis. As a group, research analysts predict that Tronox will post 0.49 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP Jeffrey N. Neuman purchased 10,266 shares of the business’s stock in a transaction dated Wednesday, May 7th. The stock was acquired at an average price of $4.89 per share, for a total transaction of $50,200.74. Following the completion of the purchase, the senior vice president now directly owns 10,266 shares of the company’s stock, valued at $50,200.74. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Stifel Financial Corp increased its stake in Tronox by 1.9% in the 4th quarter. Stifel Financial Corp now owns 101,264 shares of the company’s stock valued at $1,020,000 after purchasing an additional 1,891 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Tronox by 3.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 67,532 shares of the company’s stock worth $680,000 after buying an additional 2,201 shares in the last quarter. Investors Research Corp grew its stake in Tronox by 16.4% in the 1st quarter. Investors Research Corp now owns 16,300 shares of the company’s stock valued at $115,000 after acquiring an additional 2,300 shares during the last quarter. SG Americas Securities LLC grew its stake in Tronox by 6.2% in the 1st quarter. SG Americas Securities LLC now owns 42,677 shares of the company’s stock valued at $300,000 after acquiring an additional 2,482 shares during the last quarter. Finally, Sterling Capital Management LLC increased its holdings in Tronox by 832.6% during the 4th quarter. Sterling Capital Management LLC now owns 3,805 shares of the company’s stock valued at $38,000 after acquiring an additional 3,397 shares in the last quarter. 73.36% of the stock is owned by hedge funds and other 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.