Tronox (NYSE:TROX) Given New $22.00 Price Target at The Goldman Sachs Group

Tronox (NYSE:TROX) had its target price hoisted by The Goldman Sachs Group from $17.00 to $22.00 in a research note released on Monday morning, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities analysts have also recently issued reports on TROX. UBS Group increased their target price on Tronox from $13.00 to $14.00 and gave the stock a neutral rating in a report on Thursday, January 11th. StockNews.com cut Tronox from a hold rating to a sell rating in a report on Saturday, May 4th. Finally, BMO Capital Markets increased their target price on Tronox from $19.00 to $24.00 and gave the stock an outperform rating in a report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Hold and an average target price of $16.29.

Tronox Price Performance

Tronox stock opened at $19.19 on Monday. The stock has a market capitalization of $3.01 billion, a price-to-earnings ratio of -8.61, a PEG ratio of 25.36 and a beta of 1.91. Tronox has a 52-week low of $10.08 and a 52-week high of $19.75. The stock’s 50 day moving average price is $16.85 and its two-hundred day moving average price is $14.37. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.09 and a current ratio of 3.12.

Tronox (NYSE:TROX) last issued its earnings results on Wednesday, May 1st. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.06). Tronox had a negative return on equity of 2.74% and a negative net margin of 11.93%. The firm had revenue of $774.00 million during the quarter, compared to the consensus estimate of $753.98 million. During the same quarter in the prior year, the business earned $0.15 earnings per share. Tronox’s revenue for the quarter was up 9.3% on a year-over-year basis. On average, equities analysts predict that Tronox will post 0.6 earnings per share for the current year.

Tronox Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Monday, May 20th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 2.61%. The ex-dividend date is Friday, May 17th. Tronox’s dividend payout ratio (DPR) is presently -22.42%.

Hedge Funds Weigh In On Tronox

Several large investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC increased its holdings in Tronox by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,232 shares of the company’s stock worth $178,000 after acquiring an additional 861 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of Tronox by 2.8% in the third quarter. Arizona State Retirement System now owns 33,469 shares of the company’s stock worth $450,000 after acquiring an additional 923 shares during the period. Natixis Advisors L.P. boosted its stake in Tronox by 4.9% in the 3rd quarter. Natixis Advisors L.P. now owns 20,471 shares of the company’s stock worth $275,000 after purchasing an additional 959 shares during the period. ProShare Advisors LLC grew its stake in Tronox by 8.5% during the first quarter. ProShare Advisors LLC now owns 21,049 shares of the company’s stock valued at $365,000 after acquiring an additional 1,657 shares in the last quarter. Finally, Millburn Ridgefield Corp purchased a new stake in shares of Tronox in the third quarter worth $25,000. 73.36% of the stock is currently 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.