Tronox (NYSE:TROX) Downgraded to “Hold” at Zacks Investment Research
According to Zacks, “Tronox Holdings plc is a vertically integrated mining and inorganic chemical business. The company mines and processes titanium ore, zircon and other minerals and manufactures titanium dioxide pigments to paints, plastics, paper and other everyday products. It operates primarily in South Africa, Australia, United States, the Netherlands and Australia. Tronox Holdings plc, formerly known as Tronox Limited, is based in London, United Kingdom. “
Other research analysts have also recently issued reports about the stock. Alembic Global Advisors set a $19.00 price objective on shares of Tronox and gave the stock a buy rating in a research report on Friday, May 10th. ValuEngine cut shares of Tronox from a hold rating to a sell rating in a research report on Thursday, August 8th. Finally, Morgan Stanley set a $15.00 price objective on shares of Tronox and gave the stock a hold rating in a research report on Wednesday, June 19th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. Tronox presently has an average rating of Hold and a consensus target price of $14.86.
Tronox (NYSE:TROX) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.17. The company had revenue of $791.00 million for the quarter, compared to analysts’ expectations of $776.00 million. Tronox had a negative net margin of 4.60% and a positive return on equity of 5.37%. Tronox’s revenue for the quarter was up 60.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.31 earnings per share. As a group, sell-side analysts forecast that Tronox will post 0.45 EPS for the current fiscal year.
In other news, Chairman Jeffry N. Quinn bought 9,600 shares of the business’s stock in a transaction on Tuesday, June 4th. The stock was acquired at an average price of $10.45 per share, with a total value of $100,320.00. Following the completion of the purchase, the chairman now directly owns 266,720 shares in the company, valued at $2,787,224. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Timothy C. Carlson bought 9,615 shares of the business’s stock in a transaction on Tuesday, June 4th. The stock was purchased at an average cost of $10.40 per share, with a total value of $99,996.00. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 38,027 shares of company stock valued at $379,715. 1.30% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of TROX. Optimum Investment Advisors purchased a new stake in Tronox in the first quarter worth approximately $39,000. Tower Research Capital LLC TRC purchased a new stake in Tronox in the second quarter worth approximately $43,000. Quantamental Technologies LLC purchased a new stake in Tronox in the first quarter worth approximately $64,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Tronox by 26.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,882 shares of the company’s stock worth $75,000 after buying an additional 1,244 shares in the last quarter. Finally, Daiwa Securities Group Inc. purchased a new stake in Tronox in the first quarter worth approximately $92,000. 56.67% of the stock is owned by institutional investors and hedge funds.
Tronox Holdings plc engages in the mining, production, and marketing of inorganic minerals and chemicals in North America, South and Central America, Europe, the Middle East, Africa, and the Asia Pacific. It mines and processes titanium ore, zircon, and other minerals; and manufactures titanium dioxide pigments that add brightness and durability to paints, plastics, paper, and other everyday products.
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