Tronox (NYSE:TROX) Given New $13.00 Price Target at The Goldman Sachs Group

Tronox (NYSE:TROX) had its price objective trimmed by The Goldman Sachs Group from $15.00 to $13.00 in a research note published on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other analysts have also recently commented on the company. UBS Group upgraded Tronox from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $17.00 to $19.00 in a research report on Thursday, October 10th. BMO Capital Markets cut their price target on Tronox from $21.00 to $17.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 29th. Finally, Barclays cut their target price on shares of Tronox from $18.00 to $16.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Tronox has a consensus rating of “Moderate Buy” and a consensus price target of $17.40.

Tronox Price Performance

Shares of NYSE TROX opened at $9.16 on Tuesday. The stock’s 50-day simple moving average is $11.06 and its 200-day simple moving average is $13.14. The firm has a market capitalization of $1.45 billion, a PE ratio of -19.08 and a beta of 1.62. Tronox has a fifty-two week low of $8.99 and a fifty-two week high of $20.70. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.90 and a current ratio of 2.72.

Tronox (NYSE:TROX) last released its quarterly earnings data on Thursday, October 24th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.30). The company had revenue of $804.00 million for the quarter, compared to analyst estimates of $790.63 million. Tronox had a negative return on equity of 3.91% and a negative net margin of 2.40%. The firm’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.08) EPS. As a group, equities research analysts forecast that Tronox will post -0.04 EPS for the current fiscal year.

Tronox Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, November 11th were paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 5.46%. The ex-dividend date of this dividend was Friday, November 8th. Tronox’s dividend payout ratio (DPR) is presently -104.17%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Public Employees Retirement System of Ohio purchased a new stake in shares of Tronox during the 3rd quarter worth approximately $66,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Tronox in the second quarter valued at $76,000. Headlands Technologies LLC purchased a new position in shares of Tronox in the second quarter valued at $83,000. nVerses Capital LLC raised its stake in shares of Tronox by 35.1% during the 3rd quarter. nVerses Capital LLC now owns 10,400 shares of the company’s stock worth $152,000 after buying an additional 2,700 shares during the last quarter. Finally, Entropy Technologies LP purchased a new stake in shares of Tronox in the 3rd quarter worth about $190,000. Institutional investors and hedge funds own 73.36% of the company’s stock.

Tronox Company Profile

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.