The Goldman Sachs Group Cuts Tronox (NYSE:TROX) Price Target to $11.50

Tronox (NYSE:TROX) had its price objective cut by The Goldman Sachs Group from $13.00 to $11.50 in a report issued on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

TROX has been the topic of several other reports. Morgan Stanley reduced their price objective on Tronox from $16.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Truist Financial reduced their price target on shares of Tronox from $17.00 to $14.00 and set a “buy” rating on the stock in a research note on Tuesday, February 18th. BMO Capital Markets decreased their price target on shares of Tronox from $21.00 to $17.00 and set an “outperform” rating on the stock in a report on Tuesday, October 29th. Finally, UBS Group dropped their price objective on shares of Tronox from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Tronox presently has an average rating of “Moderate Buy” and an average target price of $15.36.

Tronox Trading Up 0.1 %

Shares of Tronox stock opened at $7.75 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 2.47 and a debt-to-equity ratio of 1.54. Tronox has a 12-month low of $7.72 and a 12-month high of $20.70. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of -25.00 and a beta of 1.60. The firm’s 50-day moving average price is $9.53 and its two-hundred day moving average price is $11.62.

Tronox (NYSE:TROX) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.03). Tronox had a negative return on equity of 0.63% and a negative net margin of 1.56%. On average, analysts forecast that Tronox will post 0.49 earnings per share for the current fiscal year.

Tronox Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 6.45%. The ex-dividend date of this dividend is Monday, March 3rd. Tronox’s payout ratio is -161.29%.

Hedge Funds Weigh In On Tronox

Several large investors have recently modified their holdings of TROX. Sterling Capital Management LLC increased its holdings in Tronox by 832.6% in the fourth quarter. Sterling Capital Management LLC now owns 3,805 shares of the company’s stock valued at $38,000 after purchasing an additional 3,397 shares during the period. Public Employees Retirement System of Ohio bought a new stake in shares of Tronox in the 3rd quarter valued at about $66,000. KBC Group NV increased its stake 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 buying an additional 2,590 shares during the period. Point72 Asia Singapore Pte. Ltd. raised its position in shares of Tronox by 34.6% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,548 shares of the company’s stock worth $96,000 after acquiring an additional 1,683 shares during the last quarter. Finally, Mariner LLC acquired a new position in shares of Tronox in the fourth quarter worth approximately $105,000. Institutional investors own 73.36% of the company’s stock.

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.