Tronox (NYSE:TROX) Price Target Cut to $13.00 by Analysts at The Goldman Sachs Group

Tronox (NYSE:TROX) had its price target reduced by The Goldman Sachs Group from $15.00 to $13.00 in a report published on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts have also weighed in on the stock. BMO Capital Markets lowered their target price on shares of Tronox from $21.00 to $17.00 and set an “outperform” rating on the stock in a report on Tuesday, October 29th. Barclays cut their target price on shares of Tronox from $18.00 to $16.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. Finally, UBS Group raised Tronox from a “neutral” rating to a “buy” rating and raised their price target for the company from $17.00 to $19.00 in a report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Tronox presently has a consensus rating of “Moderate Buy” and an average price target of $17.40.

Tronox Stock Performance

NYSE TROX opened at $9.45 on Tuesday. The company’s fifty day moving average is $11.18 and its two-hundred day moving average is $13.20. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of -19.69 and a beta of 1.62. The company has a debt-to-equity ratio of 1.42, a current ratio of 2.72 and a quick ratio of 0.90. Tronox has a 52-week low of $9.40 and a 52-week high of $20.70.

Tronox (NYSE:TROX) last announced its quarterly earnings data on Thursday, October 24th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.30). The firm had revenue of $804.00 million during the quarter, compared to the consensus estimate of $790.63 million. Tronox had a negative return on equity of 3.91% and a negative net margin of 2.40%. Tronox’s revenue was up 21.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.08) EPS. Equities research analysts forecast that Tronox will post -0.04 EPS for the current year.

Tronox Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, November 11th were issued a $0.125 dividend. The ex-dividend date was Friday, November 8th. This represents a $0.50 dividend on an annualized basis and a yield of 5.29%. Tronox’s dividend payout ratio is presently -104.17%.

Hedge Funds Weigh In On Tronox

Several institutional investors and hedge funds have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. grew its stake in Tronox by 34.6% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,548 shares of the company’s stock valued at $96,000 after acquiring an additional 1,683 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Tronox by 5.0% in the second quarter. The Manufacturers Life Insurance Company now owns 45,701 shares of the company’s stock valued at $717,000 after buying an additional 2,180 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Tronox by 9.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,548 shares of the company’s stock worth $399,000 after purchasing an additional 2,488 shares during the period. nVerses Capital LLC grew its holdings in shares of Tronox by 35.1% during the third quarter. nVerses Capital LLC now owns 10,400 shares of the company’s stock worth $152,000 after buying an additional 2,700 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Tronox in the third quarter worth $66,000. Institutional investors and hedge funds 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.