Tronox (NYSE:TROX) PT Lowered to $16.00 at The Goldman Sachs Group

Tronox (NYSE:TROX) had its price target decreased by The Goldman Sachs Group from $18.00 to $16.00 in a research note published on Thursday morning, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

A number of other research analysts have also recently commented on TROX. StockNews.com upgraded shares of Tronox from a sell rating to a hold rating in a report on Monday, August 5th. Barclays cut their price objective on Tronox from $22.00 to $19.00 and set an overweight rating for the company in a research report on Tuesday, August 6th. Mizuho initiated coverage on Tronox in a report on Friday, June 7th. They issued a neutral rating and a $22.00 price target for the company. Finally, UBS Group dropped their price objective on shares of Tronox from $19.00 to $18.00 and set a neutral rating on the stock in a research note on Tuesday, July 9th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of Hold and an average price target of $18.33.

Tronox Stock Performance

Shares of TROX stock opened at $12.68 on Thursday. The firm’s 50-day simple moving average is $13.94 and its two-hundred day simple moving average is $16.38. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of -5.69, a P/E/G ratio of 22.26 and a beta of 1.64. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.08 and a current ratio of 2.98. Tronox has a 52 week low of $10.08 and a 52 week high of $20.70.

Tronox (NYSE:TROX) last posted its earnings results on Thursday, August 1st. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.11). Tronox had a negative return on equity of 3.40% and a negative net margin of 2.14%. The firm had revenue of $820.00 million for the quarter, compared to analysts’ expectations of $848.04 million. During the same quarter in the prior year, the company posted $0.16 earnings per share. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, equities analysts forecast that Tronox will post 0.44 earnings per share for the current year.

Tronox Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Monday, August 26th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date is Monday, August 26th. Tronox’s dividend payout ratio is -22.42%.

Institutional Trading of Tronox

Institutional investors and hedge funds have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Tronox during the second quarter valued at about $76,000. Headlands Technologies LLC bought a new stake in Tronox during the 2nd quarter worth about $83,000. SG Americas Securities LLC bought a new position in Tronox in the first quarter valued at approximately $124,000. nVerses Capital LLC bought a new position in shares of Tronox in the 2nd quarter worth $121,000. Finally, TFO Wealth Partners LLC grew its position in shares of Tronox by 260,833.3% during the 4th quarter. TFO Wealth Partners LLC now owns 7,828 shares of the company’s stock worth $111,000 after buying an additional 7,825 shares during the period. 73.36% of the stock is currently owned by institutional investors and hedge funds.

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.