Tronox (NYSE:TROX) Price Target Cut to $4.50 by Analysts at Mizuho

Tronox (NYSE:TROX) had its price objective reduced by equities research analysts at Mizuho from $5.50 to $4.50 in a report released on Wednesday, Benzinga reports. The brokerage presently has an “underperform” rating on the stock. Mizuho’s target price points to a potential upside of 14.07% from the company’s current price.

TROX has been the topic of several other research reports. The Goldman Sachs Group dropped their price target on shares of Tronox from $9.00 to $6.50 and set a “sell” rating on the stock in a research note on Wednesday, July 22nd. Wall Street Zen cut Tronox from a “hold” rating to a “sell” rating in a report on Saturday, June 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Tronox in a research report on Friday, August 7th. JPMorgan Chase & Co. cut Tronox from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $7.00 to $5.00 in a research report on Thursday, August 13th. Finally, Truist Financial upgraded Tronox from a “sell” rating to a “hold” rating and set a $7.00 price objective for the company in a research note on Thursday, June 11th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $7.00.

Tronox Price Performance

NYSE TROX opened at $3.94 on Wednesday. Tronox has a one year low of $2.86 and a one year high of $10.59. The stock has a 50-day moving average of $5.32 and a 200 day moving average of $7.04. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.81 and a current ratio of 2.55. The company has a market capitalization of $630.02 million, a price-to-earnings ratio of -1.14 and a beta of 0.79.

Tronox (NYSE:TROX) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.13). The company had revenue of $868.00 million for the quarter, compared to analysts’ expectations of $832.59 million. Tronox had a negative net margin of 17.96% and a negative return on equity of 24.34%. The business’s revenue was up 18.7% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.28) EPS. On average, sell-side analysts forecast that Tronox will post -1.37 EPS for the current year.

Institutional Trading of Tronox

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Squarepoint Ops LLC purchased a new position in Tronox during the 2nd quarter worth $4,355,000. AlphaGrep UK Ltd purchased a new stake in shares of Tronox in the 2nd quarter worth $198,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Tronox in the 2nd quarter worth $114,000. Converium Capital Inc. grew its position in shares of Tronox by 33.3% during the 1st quarter. Converium Capital Inc. now owns 200,000 shares of the company’s stock worth $1,954,000 after buying an additional 50,000 shares in the last quarter. Finally, 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 buying an additional 1,060,713 shares in the last quarter. 73.36% of the stock is owned by hedge funds and other institutional investors.

About Tronox

Tronox Holdings plc (NYSE:TROX) is a global producer of titanium dioxide (TiO2) pigment, a material used to provide whiteness, brightness, and opacity in paints and coatings, plastics, paper, and other products. The company also produces titanium feedstocks, zircon, and other mineral-sands products used in pigment manufacturing and a range of industrial applications.

Tronox operates an integrated business model that includes the exploration and mining of mineral sands, processing and upgrading titanium-bearing ores, manufacturing TiO2 pigment, and producing related specialty materials.