Mizuho Cuts Tronox (NYSE:TROX) Price Target to $9.00

Tronox (NYSE:TROX) had its target price cut by Mizuho from $11.00 to $9.00 in a research note published on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other analysts have also recently issued reports on the company. UBS Group reduced their price objective on Tronox from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Truist Financial reduced their price target on Tronox from $17.00 to $14.00 and set a “buy” rating on the stock in a research report on Tuesday, February 18th. The Goldman Sachs Group lowered their price objective on Tronox from $13.00 to $11.50 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Finally, Morgan Stanley reduced their target price on shares of Tronox from $16.00 to $12.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Tronox has an average rating of “Moderate Buy” and a consensus price target of $13.50.

Tronox Stock Performance

NYSE TROX opened at $7.09 on Thursday. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.47 and a quick ratio of 0.90. The company has a market cap of $1.12 billion, a P/E ratio of -22.85 and a beta of 1.64. The stock has a 50-day moving average of $8.88 and a two-hundred day moving average of $11.10. Tronox has a 1-year low of $6.64 and a 1-year high of $20.70.

Tronox (NYSE:TROX) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03). Tronox had a negative net margin of 1.56% and a negative return on equity of 0.63%. As a group, analysts anticipate that Tronox will post 0.49 EPS for the current year.

Tronox Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 3rd will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 7.06%. The ex-dividend date is Monday, March 3rd. Tronox’s dividend payout ratio (DPR) is -161.29%.

Institutional Investors Weigh In On Tronox

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Entropy Technologies LP acquired a new stake in shares of Tronox during the third quarter worth about $190,000. Aigen Investment Management LP acquired a new position in Tronox during the third quarter worth approximately $363,000. Victory Capital Management Inc. lifted its stake in Tronox by 54.6% in the third quarter. Victory Capital Management Inc. now owns 1,537,723 shares of the company’s stock valued at $22,497,000 after buying an additional 543,091 shares during the last quarter. Royce & Associates LP boosted its holdings in shares of Tronox by 20.8% in the third quarter. Royce & Associates LP now owns 493,543 shares of the company’s stock valued at $7,221,000 after acquiring an additional 84,830 shares during the period. Finally, Empowered Funds LLC grew its position in shares of Tronox by 5.4% during the third quarter. Empowered Funds LLC now owns 692,787 shares of the company’s stock worth $10,135,000 after acquiring an additional 35,342 shares during the last quarter. 73.36% of the stock is owned by hedge funds and other 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.