Tronox (NYSE:TROX) Given New $11.50 Price Target at The Goldman Sachs Group

Tronox (NYSE:TROX) had its price objective reduced by The Goldman Sachs Group from $13.00 to $11.50 in a research note released on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also recently commented on TROX. BMO Capital Markets lowered their target price on Tronox from $21.00 to $17.00 and set an “outperform” rating for the company in a research note on Tuesday, October 29th. Truist Financial cut their price target on Tronox from $17.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday, February 18th. Morgan Stanley lowered their target price on Tronox from $16.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Finally, UBS Group lowered their price target on Tronox from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Tronox presently has an average rating of “Moderate Buy” and a consensus target price of $15.36.

Tronox Stock Performance

Shares of NYSE TROX opened at $7.96 on Wednesday. The business’s 50-day moving average price is $9.58 and its two-hundred day moving average price is $11.64. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.47 and a quick ratio of 0.90. Tronox has a one year low of $7.72 and a one year high of $20.70. The company has a market capitalization of $1.26 billion, a P/E ratio of -25.68 and a beta of 1.60.

Tronox (NYSE:TROX) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.03). Tronox had a negative return on equity of 0.63% and a negative net margin of 1.56%. Analysts anticipate that Tronox will post 0.49 earnings per share for the current fiscal year.

Tronox Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.125 per share. The ex-dividend date is Monday, March 3rd. This represents a $0.50 annualized dividend and a dividend yield of 6.28%. Tronox’s payout ratio is currently -161.29%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of Tronox by 34.6% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,548 shares of the company’s stock worth $96,000 after acquiring an additional 1,683 shares during the last quarter. Stifel Financial Corp grew its holdings in 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Tronox by 3.4% in the fourth 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. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Tronox by 9.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,548 shares of the company’s stock worth $399,000 after buying an additional 2,488 shares in the last quarter. Finally, KBC Group NV lifted its stake in shares of Tronox by 59.4% in the fourth quarter. KBC Group NV now owns 6,949 shares of the company’s stock worth $70,000 after buying an additional 2,590 shares in the last quarter. 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.