Tronox Holdings PLC (NYSE:TROX) Receives Average Rating of “Reduce” from Analysts

Shares of Tronox Holdings PLC (NYSE:TROX) have earned an average recommendation of “Reduce” from the nine analysts that are covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $7.0833.

Several research analysts have recently issued reports on TROX shares. JPMorgan Chase & Co. cut shares of Tronox from a “neutral” rating to an “underweight” rating and lowered their target price for the company from $7.00 to $5.00 in a report on Thursday, August 13th. Wall Street Zen lowered shares of Tronox from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Tronox in a research report on Friday, August 7th. The Goldman Sachs Group decreased their price objective on shares of Tronox from $9.00 to $6.50 and set a “sell” rating for the company in a research note on Wednesday, July 22nd. Finally, Truist Financial raised Tronox from a “sell” rating to a “hold” rating and set a $7.00 price objective on the stock in a report on Thursday, June 11th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Van Lanschot Kempen Investment Management N.V. increased its position in Tronox by 123.0% during the fourth quarter. Van Lanschot Kempen Investment Management N.V. now owns 4,347,134 shares of the company’s stock worth $18,128,000 after buying an additional 2,398,038 shares during the period. CenterBook Partners LP grew its position in shares of Tronox by 9.7% during the fourth quarter. CenterBook Partners LP now owns 1,787,731 shares of the company’s stock worth $7,455,000 after acquiring an additional 157,760 shares during the last quarter. Royal Bank of Canada increased its holdings in shares of Tronox by 21,419.9% in the 1st quarter. Royal Bank of Canada now owns 1,065,665 shares of the company’s stock valued at $10,412,000 after acquiring an additional 1,060,713 shares during the period. Squarepoint Ops LLC purchased a new stake in Tronox in the 2nd quarter valued at $4,355,000. Finally, Monaco Asset Management SAM purchased a new stake in Tronox in the 4th quarter valued at $2,382,000. Hedge funds and other institutional investors own 73.36% of the company’s stock.

Tronox Price Performance

TROX stock opened at $4.21 on Tuesday. The business has a 50 day moving average price of $5.58 and a 200 day moving average price of $7.17. The company has a quick ratio of 0.81, a current ratio of 2.55 and a debt-to-equity ratio of 2.62. The stock has a market cap of $671.54 million, a price-to-earnings ratio of -1.22 and a beta of 0.79. Tronox has a fifty-two week low of $2.86 and a fifty-two week high of $10.59.

Tronox (NYSE:TROX) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.13). Tronox had a negative net margin of 17.96% and a negative return on equity of 24.34%. The company had revenue of $868.00 million during the quarter, compared to analysts’ expectations of $832.59 million. During the same quarter in the prior year, the company earned ($0.28) earnings per share. The business’s revenue for the quarter was up 18.7% on a year-over-year basis. Equities research analysts anticipate that Tronox will post -1.37 earnings per share for the current fiscal year.

Tronox Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Monday, August 10th will be given a $0.05 dividend. The ex-dividend date of this dividend is Monday, August 10th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 4.8%. Tronox’s dividend payout ratio is -5.78%.

About Tronox

Tronox Holdings plc (NYSE:TROX) is a global producer of titanium dioxide (TiO2) pigment, a material used to provide whiteness, brightness, and opacity in paints and coatings, plastics, paper, and other products. The company also produces titanium feedstocks, zircon, and other mineral-sands products used in pigment manufacturing and a range of industrial applications.

Tronox operates an integrated business model that includes the exploration and mining of mineral sands, processing and upgrading titanium-bearing ores, manufacturing TiO2 pigment, and producing related specialty materials.