Tronox Holdings PLC (NYSE:TROX) Stock Has Average Target Price of $5.33 According to Analysts

Shares of Tronox Holdings PLC (NYSE:TROX) have received an average recommendation of “Reduce” from the nine research firms that are currently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $5.33.

Several research firms have recently commented on TROX. The Goldman Sachs Group decreased their target price on Tronox from $6.50 to $4.00 and set a “sell” rating on the stock in a research report on Friday, October 9th. Zacks Research lowered Tronox from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 15th. JPMorgan Chase & Co. cut Tronox from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $7.00 to $5.00 in a report on Thursday, August 13th. UBS Group reduced their price target on Tronox from $7.00 to $4.50 and set a “neutral” rating for the company in a research note on Monday, October 5th. Finally, Truist Financial reduced their price target on Tronox from $7.00 to $4.00 and set a “hold” rating for the company in a research note on Tuesday, October 20th.

Institutional Investors Weigh In On Tronox

A number of institutional investors have recently modified their holdings of TROX. Shah Capital Management boosted its holdings in Tronox by 13.4% in the 3rd quarter. Shah Capital Management now owns 2,915,807 shares of the company’s stock valued at $11,517,000 after purchasing an additional 344,993 shares during the period. Royal Bank of Canada grew its position in shares of Tronox by 21,419.9% during the 1st quarter. Royal Bank of Canada now owns 1,065,665 shares of the company’s stock worth $10,412,000 after purchasing an additional 1,060,713 shares in the last quarter. Squarepoint Ops LLC acquired a new position in shares of Tronox during the 2nd quarter worth approximately $4,355,000. Bank of New York Mellon Corp increased its holdings in shares of Tronox by 0.6% during the first quarter. Bank of New York Mellon Corp now owns 500,461 shares of the company’s stock worth $4,890,000 after purchasing an additional 3,225 shares during the period. Finally, Swiss National Bank increased its holdings in shares of Tronox by 2.6% during the first quarter. Swiss National Bank now owns 235,300 shares of the company’s stock worth $2,299,000 after purchasing an additional 5,900 shares during the period. Institutional investors own 73.36% of the company’s stock.

Tronox Stock Down 1.0%

Shares of TROX opened at $2.48 on Wednesday. Tronox has a 52 week low of $2.41 and a 52 week high of $10.59. The firm has a market cap of $396.85 million, a P/E ratio of -0.78 and a beta of 0.98. The firm’s 50-day simple moving average is $3.96 and its 200 day simple moving average is $6.55. The company has a debt-to-equity ratio of 2.70, a quick ratio of 0.81 and a current ratio of 2.52.

Tronox (NYSE:TROX) last released its quarterly earnings results on Wednesday, November 4th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.13). The company had revenue of $827.00 million during the quarter, compared to the consensus estimate of $854.43 million. Tronox had a negative net margin of 15.86% and a negative return on equity of 25.02%. The firm’s revenue was up 18.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.46) earnings per share. On average, analysts forecast that Tronox will post -1.49 earnings per share for the current year.

Tronox Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Monday, November 16th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, November 16th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 8.0%. Tronox’s dividend payout ratio (DPR) is currently -6.31%.

Tronox Company Profile

Tronox Holdings plc (NYSE:TROX) is a global producer of titanium dioxide pigment and other titanium products. Its titanium dioxide is used to provide whiteness, brightness and opacity in paints and coatings, plastics, paper, inks and related applications. The company also produces zircon and other mineral sands products used in ceramics, refractories, foundries and industrial applications.

Tronox operates an integrated business that includes the mining of mineral sands, production of titanium-bearing feedstocks, and manufacture of titanium dioxide pigment and specialty products.