Zacks Investment Research upgraded shares of Tronox (NYSE:TROX) from a hold rating to a buy rating in a report issued on Saturday, Zacks.com reports. Zacks Investment Research currently has $8.00 price objective on the stock.
According to Zacks, “Tronox Holdings plc is a vertically integrated mining and inorganic chemical business. The company mines and processes titanium ore, zircon and other minerals and manufactures titanium dioxide pigments to paints, plastics, paper and other everyday products. It operates primarily in South Africa, Australia, United States, the Netherlands and Australia. Tronox Holdings plc, formerly known as Tronox Limited, is based in London, United Kingdom. “
A number of other equities research analysts also recently issued reports on TROX. ValuEngine downgraded shares of Tronox from a hold rating to a sell rating in a research note on Wednesday, April 1st. UBS Group increased their price objective on shares of Tronox from $3.50 to $5.00 and gave the stock a sell rating in a research note on Friday, May 8th. Finally, SunTrust Banks reduced their price objective on shares of Tronox from $20.00 to $12.00 and set a buy rating on the stock in a research note on Friday, May 8th. Two equities research analysts have rated the stock with a sell rating and four have issued a buy rating to the company. Tronox currently has a consensus rating of Hold and a consensus target price of $12.40.
NYSE:TROX opened at $7.03 on Friday. Tronox has a 52 week low of $3.97 and a 52 week high of $13.12. The firm has a market cap of $996.42 million, a price-to-earnings ratio of -25.11 and a beta of 3.17. The firm’s 50-day simple moving average is $6.99 and its 200 day simple moving average is $7.90. The company has a debt-to-equity ratio of 4.43, a quick ratio of 1.21 and a current ratio of 2.37.
Tronox (NYSE:TROX) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.08. Tronox had a negative net margin of 1.45% and a positive return on equity of 15.41%. The business had revenue of $722.00 million for the quarter, compared to analyst estimates of $720.46 million. During the same period last year, the firm earned ($0.18) earnings per share. Tronox’s revenue for the quarter was up 85.1% compared to the same quarter last year. Sell-side analysts anticipate that Tronox will post 0.35 EPS for the current year.
Institutional investors and hedge funds have recently bought and sold shares of the company. Allworth Financial LP acquired a new stake in shares of Tronox in the 1st quarter valued at approximately $30,000. Royal Bank of Canada boosted its stake in shares of Tronox by 3,838.5% in the 1st quarter. Royal Bank of Canada now owns 7,877 shares of the company’s stock valued at $39,000 after purchasing an additional 7,677 shares in the last quarter. Heritage Investors Management Corp acquired a new stake in shares of Tronox in the 1st quarter valued at approximately $57,000. Comerica Bank acquired a new stake in shares of Tronox in the 1st quarter valued at approximately $63,000. Finally, PARK CIRCLE Co boosted its stake in shares of Tronox by 100.0% in the 1st quarter. PARK CIRCLE Co now owns 15,000 shares of the company’s stock valued at $75,000 after purchasing an additional 7,500 shares in the last quarter. Institutional investors own 56.30% of the company’s stock.
Tronox Company Profile
Tronox Holdings plc engages in the mining, production, and marketing of inorganic minerals and chemicals in North America, South and Central America, Europe, the Middle East, Africa, and the Asia Pacific. It mines and processes titanium ore, zircon, and other minerals; and manufactures titanium dioxide pigments that add brightness and durability to paints, plastics, paper, and other everyday products.
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