Tronox (NYSE:TROX) Stock Rating Upgraded by StockNews.com

Tronox (NYSE:TROX) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.

Several other brokerages have also commented on TROX. Mizuho began coverage on Tronox in a report on Friday, June 7th. They issued a “neutral” rating and a $22.00 price objective for the company. The Goldman Sachs Group lifted their price objective on Tronox from $17.00 to $22.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Barclays lifted their price objective on Tronox from $17.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday, May 15th. UBS Group cut their price objective on Tronox from $19.00 to $18.00 and set a “neutral” rating for the company in a report on Tuesday, July 9th. Finally, BMO Capital Markets lifted their price objective on Tronox from $19.00 to $24.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $18.86.

Tronox Stock Down 4.9 %

Shares of Tronox stock traded down $0.65 on Monday, reaching $12.66. The company’s stock had a trading volume of 1,607,051 shares, compared to its average volume of 1,170,126. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of -5.68, a P/E/G ratio of 17.49 and a beta of 1.70. The firm’s fifty day simple moving average is $17.29 and its two-hundred day simple moving average is $16.64. Tronox has a 52 week low of $10.08 and a 52 week high of $20.70. The company has a quick ratio of 1.09, a current ratio of 3.12 and a debt-to-equity ratio of 1.44.

Tronox (NYSE:TROX) last posted its earnings results on Thursday, August 1st. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.11). The business had revenue of $820.00 million during the quarter, compared to the consensus estimate of $848.04 million. Tronox had a negative return on equity of 3.38% and a negative net margin of 2.14%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.16 EPS. Equities analysts anticipate that Tronox will post 0.62 earnings per share for the current year.

Hedge Funds Weigh In On Tronox

Hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC bought a new position in shares of Tronox during the fourth quarter valued at approximately $27,000. SG Americas Securities LLC bought a new position in shares of Tronox during the first quarter valued at approximately $124,000. nVerses Capital LLC bought a new position in shares of Tronox during the second quarter valued at approximately $121,000. TFO Wealth Partners LLC grew its stake in shares of Tronox by 260,833.3% during the fourth quarter. TFO Wealth Partners LLC now owns 7,828 shares of the company’s stock valued at $111,000 after buying an additional 7,825 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in Tronox by 9.2% in 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 in the last quarter. Institutional investors own 73.36% of the company’s stock.

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.