Tronox (NYSE:TROX) Upgraded by JPMorgan Chase & Co. to "Overweight" Rating

JPMorgan Chase & Co. upgraded shares of Tronox (NYSE:TROX - Free Report) from a neutral rating to an overweight rating in a research report sent to investors on Friday morning, MarketBeat.com reports. The firm currently has $7.00 price target on the stock, up from their previous price target of $5.00.

Several other analysts have also weighed in on TROX. Wall Street Zen lowered shares of Tronox from a "hold" rating to a "sell" rating in a report on Monday, May 5th. Truist Financial reduced their price target on shares of Tronox from $14.00 to $10.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Mizuho cut their price objective on shares of Tronox from $11.00 to $9.00 and set a "neutral" rating on the stock in a research report on Thursday, March 13th. Morgan Stanley cut their price target on shares of Tronox from $12.00 to $8.00 and set an "equal weight" rating on the stock in a research report on Monday, May 5th. Finally, BMO Capital Markets reiterated a "market perform" rating and issued a $7.00 price target (down previously from $13.00) on shares of Tronox in a research note on Wednesday, May 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, Tronox currently has a consensus rating of "Hold" and a consensus price target of $8.31.

Tronox Stock Up 5.2%

Shares of NYSE TROX traded up $0.28 during mid-day trading on Friday, reaching $5.66. The company had a trading volume of 1,042,986 shares, compared to its average volume of 1,681,887. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.90 and a current ratio of 2.47. The stock has a market capitalization of $896.89 million, a PE ratio of -18.26 and a beta of 1.40. Tronox has a twelve month low of $4.35 and a twelve month high of $20.70. The stock's 50 day moving average is $5.45 and its 200-day moving average is $8.13.

Tronox (NYSE:TROX - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.02 by ($0.17). Tronox had a negative net margin of 1.56% and a negative return on equity of 0.63%. The firm had revenue of $738.00 million for the quarter, compared to the consensus estimate of $745.96 million. During the same quarter last year, the company earned ($0.05) earnings per share. The firm's revenue was down 4.7% on a year-over-year basis. As a group, equities analysts anticipate that Tronox will post 0.49 earnings per share for the current fiscal year.

Tronox Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Monday, May 19th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 8.83%. The ex-dividend date of this dividend is Monday, May 19th. Tronox's payout ratio is -52.63%.

Insider Activity

In other news, Director Stephen J. Jones purchased 30,000 shares of the company's stock in a transaction that occurred on Tuesday, March 18th. The shares were bought at an average cost of $7.17 per share, with a total value of $215,100.00. Following the completion of the transaction, the director now directly owns 30,000 shares of the company's stock, valued at approximately $215,100. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Jeffrey N. Neuman purchased 10,266 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The shares were purchased at an average cost of $4.89 per share, for a total transaction of $50,200.74. Following the completion of the transaction, the senior vice president now directly owns 10,266 shares of the company's stock, valued at $50,200.74. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.70% of the company's stock.

Institutional Trading of Tronox

Several hedge funds have recently added to or reduced their stakes in TROX. Stifel Financial Corp increased its stake in shares of Tronox by 1.9% in the fourth quarter. Stifel Financial Corp now owns 101,264 shares of the company's stock worth $1,020,000 after purchasing an additional 1,891 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in 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 purchasing an additional 2,201 shares during the period. Investors Research Corp boosted its position in Tronox by 16.4% during the 1st quarter. Investors Research Corp now owns 16,300 shares of the company's stock valued at $115,000 after buying an additional 2,300 shares during the period. SG Americas Securities LLC boosted its position in Tronox by 6.2% during the 1st quarter. SG Americas Securities LLC now owns 42,677 shares of the company's stock valued at $300,000 after buying an additional 2,482 shares during the period. Finally, KBC Group NV raised its holdings in Tronox by 59.4% in the 4th quarter. KBC Group NV now owns 6,949 shares of the company's stock worth $70,000 after purchasing an additional 2,590 shares in the last quarter. Institutional investors own 73.36% of the company's stock.

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.