Tronox (NYSE:TROX) Price Target Cut to $7.00 by Analysts at Truist Financial

Tronox (NYSE:TROX) had its target price decreased by Truist Financial from $8.00 to $7.00 in a research note issued to investors on Friday,Benzinga reports. Truist Financial currently has a sell rating on the stock.

Several other research analysts have also recently commented on TROX. UBS Group raised their target price on shares of Tronox from $7.50 to $9.00 and gave the stock a “neutral” rating in a report on Thursday, April 9th. BMO Capital Markets reiterated a “market perform” rating on shares of Tronox in a report on Friday, February 20th. Mizuho raised their target price on shares of Tronox from $4.50 to $5.00 and gave the stock an “underperform” rating in a report on Monday, March 23rd. Zacks Research upgraded shares of Tronox from a “strong sell” rating to a “hold” rating in a report on Monday, March 2nd. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Tronox in a report on Monday, April 20th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $6.45.

Tronox Stock Performance

Shares of TROX opened at $8.85 on Friday. The firm’s 50 day moving average is $8.54 and its 200-day moving average is $6.20. The stock has a market capitalization of $1.40 billion, a P/E ratio of -3.03 and a beta of 0.83. The company has a debt-to-equity ratio of 2.16, a current ratio of 2.46 and a quick ratio of 0.67. Tronox has a 12-month low of $2.86 and a 12-month high of $10.59.

Tronox (NYSE:TROX) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.07). Tronox had a negative return on equity of 19.13% and a negative net margin of 15.82%.The business had revenue of $760.00 million during the quarter, compared to analyst estimates of $751.38 million. During the same period in the prior year, the firm earned ($0.15) EPS. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. Equities research analysts anticipate that Tronox will post -1.11 EPS for the current fiscal year.

Tronox Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 8th. Investors of record on Monday, May 11th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Monday, May 11th. Tronox’s dividend payout ratio (DPR) is presently -6.85%.

Insider Activity

In other news, SVP Jeffrey N. Neuman sold 22,965 shares of Tronox stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $6.59, for a total value of $151,339.35. Following the transaction, the senior vice president owned 248,831 shares of the company’s stock, valued at $1,639,796.29. This trade represents a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jean Francois Turgeon sold 18,563 shares of Tronox stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $6.60, for a total transaction of $122,515.80. Following the completion of the transaction, the director directly owned 754,009 shares in the company, valued at approximately $4,976,459.40. This represents a 2.40% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 172,711 shares of company stock valued at $1,145,137. 2.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tronox

A number of institutional investors and hedge funds have recently bought and sold shares of TROX. Van ECK Associates Corp increased its position in Tronox by 203.0% during the third quarter. Van ECK Associates Corp now owns 6,534,894 shares of the company’s stock worth $26,270,000 after acquiring an additional 4,378,023 shares during the period. Shah Capital Management increased its position in Tronox by 650.0% during the fourth quarter. Shah Capital Management now owns 3,000,000 shares of the company’s stock worth $12,510,000 after acquiring an additional 2,600,000 shares during the period. Van Lanschot Kempen Investment Management N.V. increased its position in Tronox by 123.0% during the fourth quarter. Van Lanschot Kempen Investment Management N.V. now owns 4,347,134 shares of the company’s stock worth $18,128,000 after acquiring an additional 2,398,038 shares during the period. CenterBook Partners LP bought a new position in Tronox during the third quarter worth $6,552,000. Finally, Bank of America Corp DE increased its position in Tronox by 199.3% during the third quarter. Bank of America Corp DE now owns 2,059,052 shares of the company’s stock worth $8,277,000 after acquiring an additional 1,371,158 shares during the period. Institutional investors own 73.36% of the company’s stock.

About Tronox

Tronox Holdings plc is a vertically integrated global producer of titanium dioxide (TiO₂) pigment and specialty materials. The company’s operations encompass the full supply chain for TiO₂, from mining and processing titanium-bearing ores—such as ilmenite and rutile—to the production of high-purity pigment for use in paints, coatings, plastics, paper and other industrial applications. In addition to TiO₂, Tronox’s product portfolio includes zircon, rare earth byproducts and other specialty minerals that serve a range of industrial markets.

Tronox operates a network of mines, processing facilities and pigment plants located across North America, Europe, the Middle East, Australia and South Africa.