Tronox (NYSE:TROX) Price Target Cut to $7.50 by Analysts at The Goldman Sachs Group

Tronox (NYSE:TROX) had its target price decreased by The Goldman Sachs Group from $11.50 to $7.50 in a research report sent to investors on Tuesday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Several other research firms have also recently weighed in on TROX. Mizuho cut their price objective on Tronox from $11.00 to $9.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. Morgan Stanley lowered their price objective on shares of Tronox from $12.00 to $8.00 and set an “equal weight” rating for the company in a research report on Monday. UBS Group cut their price objective on shares of Tronox from $11.00 to $10.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. StockNews.com cut Tronox from a “hold” rating to a “sell” rating in a report on Monday. Finally, Truist Financial cut their price target on Tronox from $14.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, April 14th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $11.07.

Tronox Stock Performance

Shares of NYSE:TROX opened at $5.33 on Tuesday. The company has a market capitalization of $842.28 million, a price-to-earnings ratio of -17.20 and a beta of 1.40. The firm’s 50 day simple moving average is $6.21 and its 200 day simple moving average is $9.07. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.47 and a quick ratio of 0.90. Tronox has a fifty-two week low of $4.35 and a fifty-two week high of $20.70.

Tronox (NYSE:TROX) last announced its quarterly earnings results on Wednesday, April 30th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.17). The firm had revenue of $738.00 million for the quarter, compared to the consensus estimate of $745.96 million. Tronox had a negative return on equity of 0.63% and a negative net margin of 1.56%. The company’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.05) earnings per share. As a group, sell-side analysts forecast that Tronox will post 0.49 earnings per share for the current year.

Tronox Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Monday, March 3rd were issued a dividend of $0.125 per share. The ex-dividend date was Monday, March 3rd. This represents a $0.50 annualized dividend and a yield of 9.38%. Tronox’s payout ratio is presently -52.63%.

Insider Activity at Tronox

In related news, Director Stephen J. Jones acquired 30,000 shares of the company’s stock in a transaction dated Tuesday, March 18th. The shares were bought at an average price of $7.17 per share, for a total transaction of $215,100.00. Following the purchase, the director now directly owns 30,000 shares in the company, valued at approximately $215,100. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Tronox

Hedge funds and other institutional investors have recently made changes to their positions in the company. Readystate Asset Management LP acquired a new stake in Tronox in the first quarter valued at $2,360,000. Allianz Asset Management GmbH acquired a new stake in Tronox in the 1st quarter valued at about $374,000. Kingsview Wealth Management LLC bought a new position in Tronox during the first quarter worth about $331,000. Edgestream Partners L.P. acquired a new position in Tronox during the first quarter worth approximately $3,620,000. Finally, CWM LLC raised its stake in Tronox by 1,186.7% in the first quarter. CWM LLC now owns 10,731 shares of the company’s stock valued at $76,000 after buying an additional 9,897 shares during the period. 73.36% of the stock is owned by institutional investors.

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.