Tronox Holdings plc (NYSE:TROX – Get Free Report)’s share price gapped down before the market opened on Tuesday after The Goldman Sachs Group lowered their price target on the stock from $21.00 to $18.00. The stock had previously closed at $13.93, but opened at $13.41. The Goldman Sachs Group currently has a buy rating on the stock. Tronox shares last traded at $13.11, with a volume of 138,980 shares traded.
A number of other analysts also recently weighed in on the stock. StockNews.com raised shares of Tronox from a “sell” rating to a “hold” rating in a report on Monday, August 5th. Mizuho started coverage on shares of Tronox in a research note on Friday, June 7th. They issued a “neutral” rating and a $22.00 price objective for the company. UBS Group dropped their price objective on shares of Tronox from $19.00 to $18.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Finally, Barclays dropped their price objective on shares of Tronox from $22.00 to $19.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $18.67.
Hedge Funds Weigh In On Tronox
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Capital World Investors acquired a new position in Tronox in the 1st quarter valued at approximately $19,152,000. Primecap Management Co. CA increased its position in Tronox by 7.9% in the 4th quarter. Primecap Management Co. CA now owns 1,234,700 shares of the company’s stock valued at $17,483,000 after acquiring an additional 90,500 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Tronox by 7.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,951,090 shares of the company’s stock worth $27,627,000 after buying an additional 127,718 shares during the period. Franklin Resources Inc. increased its position in shares of Tronox by 16.5% during the fourth quarter. Franklin Resources Inc. now owns 6,185,221 shares of the company’s stock worth $87,583,000 after buying an additional 876,192 shares during the period. Finally, Capital International Investors increased its position in shares of Tronox by 2.7% during the first quarter. Capital International Investors now owns 4,757,130 shares of the company’s stock worth $82,536,000 after buying an additional 126,926 shares during the period. 73.36% of the stock is currently owned by institutional investors and hedge funds.
Tronox Stock Performance
The company has a debt-to-equity ratio of 1.44, a current ratio of 2.98 and a quick ratio of 1.08. The company’s 50-day moving average price is $15.00 and its two-hundred day moving average price is $16.63. The company has a market capitalization of $2.06 billion, a price-to-earnings ratio of -5.91, a PEG ratio of 26.01 and a beta of 1.64.
Tronox (NYSE:TROX – Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.11). Tronox had a negative return on equity of 3.40% and a negative net margin of 2.14%. The firm had revenue of $820.00 million for the quarter, compared to analyst estimates of $848.04 million. During the same quarter last year, the company earned $0.16 earnings per share. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, equities research analysts anticipate that Tronox Holdings plc will post 0.44 EPS for the current fiscal year.
Tronox Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Monday, August 26th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 3.83%. The ex-dividend date of this dividend is Monday, August 26th. Tronox’s dividend payout ratio is presently -22.42%.
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.