Tronox (NYSE:TROX) Trading Down 6.9% on Analyst Downgrade

Tronox Holdings plc (NYSE:TROX)’s share price was down 6.9% on Friday after UBS Group lowered their price target on the stock from $16.00 to $15.00. UBS Group currently has a buy rating on the stock. Tronox traded as low as $8.22 and last traded at $8.15. Approximately 894,693 shares were traded during mid-day trading, a decline of 32% from the average daily volume of 1,307,266 shares. The stock had previously closed at $8.75.

A number of other equities research analysts have also recently issued reports on the stock. The Goldman Sachs Group dropped their price target on shares of Tronox from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Barclays cut their target price on shares of Tronox from $18.00 to $16.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. Morgan Stanley decreased their price target on shares of Tronox from $16.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. BMO Capital Markets lowered their price target on Tronox from $21.00 to $17.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 29th. Finally, Truist Financial assumed coverage on Tronox in a research note on Tuesday, January 28th. They issued a “buy” rating and a $17.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Tronox has an average rating of “Moderate Buy” and a consensus target price of $16.00.

Institutional Trading of Tronox

Several institutional investors have recently made changes to their positions in the company. Sterling Capital Management LLC increased its position in shares of Tronox by 832.6% during the fourth quarter. Sterling Capital Management LLC now owns 3,805 shares of the company’s stock valued at $38,000 after acquiring an additional 3,397 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in Tronox during the 3rd quarter worth about $66,000. KBC Group NV grew its holdings in shares of Tronox by 59.4% in the fourth quarter. KBC Group NV now owns 6,949 shares of the company’s stock valued at $70,000 after purchasing an additional 2,590 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of Tronox by 34.6% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,548 shares of the company’s stock valued at $96,000 after purchasing an additional 1,683 shares in the last quarter. Finally, Mariner LLC purchased a new position in Tronox in the 4th quarter valued at approximately $105,000. Hedge funds and other institutional investors own 73.36% of the company’s stock.

Tronox Trading Down 10.8 %

The company’s 50 day simple moving average is $10.04 and its 200 day simple moving average is $11.96. The company has a debt-to-equity ratio of 1.42, a current ratio of 2.72 and a quick ratio of 0.90. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of -16.26 and a beta of 1.60.

Tronox (NYSE:TROX) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03). Tronox had a negative return on equity of 3.91% and a negative net margin of 2.40%. As a group, research analysts expect that Tronox Holdings plc will post -0.05 earnings per share for the current fiscal year.

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.