Tronox (NYSE:TROX) Sets New 12-Month Low – Here’s Why

Tronox Holdings plc (NYSE:TROX)’s stock price hit a new 52-week low on Monday . The stock traded as low as $8.73 and last traded at $8.81, with a volume of 92654 shares. The stock had previously closed at $9.07.

Analysts Set New Price Targets

TROX has been the topic of a number of recent analyst reports. The Goldman Sachs Group dropped their target price on shares of Tronox from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. UBS Group upgraded Tronox from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $17.00 to $19.00 in a research report on Thursday, October 10th. BMO Capital Markets decreased their target price on Tronox from $21.00 to $17.00 and set an “outperform” rating for the company in a research report on Tuesday, October 29th. Finally, Barclays cut their price target on Tronox from $18.00 to $16.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.40.

Tronox Trading Down 0.8 %

The company has a 50 day simple moving average of $11.00 and a 200 day simple moving average of $13.03. The company has a current ratio of 2.72, a quick ratio of 0.90 and a debt-to-equity ratio of 1.42. The stock has a market capitalization of $1.42 billion, a PE ratio of -18.75 and a beta of 1.62.

Tronox (NYSE:TROX) last issued its quarterly earnings results on Thursday, October 24th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.30). The company had revenue of $804.00 million for the quarter, compared to analyst estimates 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 for the quarter was up 21.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.08) earnings per share. Analysts predict that Tronox Holdings plc will post -0.04 earnings per share for the current fiscal year.

Tronox Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, November 11th were issued a dividend of $0.125 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.50 annualized dividend and a yield of 5.56%. Tronox’s dividend payout ratio is currently -104.17%.

Institutional Trading of Tronox

A number of institutional investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio purchased a new position in Tronox in the 3rd quarter valued at approximately $66,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Tronox in the 2nd quarter worth about $76,000. Headlands Technologies LLC acquired a new stake in Tronox in the 2nd quarter valued at about $83,000. nVerses Capital LLC increased its holdings in Tronox by 35.1% during the 3rd quarter. nVerses Capital LLC now owns 10,400 shares of the company’s stock valued at $152,000 after acquiring an additional 2,700 shares in the last quarter. Finally, Entropy Technologies LP acquired a new position in Tronox during the third quarter worth about $190,000. 73.36% of the stock is currently owned by hedge funds and other institutional investors.

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.