Mizuho Cuts Tronox (NYSE:TROX) Price Target to $4.50

Tronox (NYSE:TROX) had its price target decreased by Mizuho from $5.50 to $4.50 in a report released on Wednesday, Marketbeat.com reports. Mizuho currently has an underperform rating on the stock.

TROX has been the topic of several other research reports. The Goldman Sachs Group reduced their target price on shares of Tronox from $9.00 to $6.50 and set a “sell” rating on the stock in a report on Wednesday, July 22nd. JPMorgan Chase & Co. downgraded shares of Tronox from a “neutral” rating to an “underweight” rating and lowered their price target for the stock from $7.00 to $5.00 in a research note on Thursday, August 13th. Wall Street Zen lowered shares of Tronox from a “hold” rating to a “sell” rating in a research report on Saturday, June 6th. Truist Financial raised Tronox from a “sell” rating to a “hold” rating and set a $7.00 price objective on the stock in a research note on Thursday, June 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Tronox in a research note on Friday, August 7th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $7.00.

Tronox Stock Performance

NYSE:TROX opened at $3.92 on Wednesday. The business has a 50 day moving average of $5.16 and a 200 day moving average of $6.97. The company has a market capitalization of $626.82 million, a price-to-earnings ratio of -1.13 and a beta of 0.92. Tronox has a 1-year low of $2.86 and a 1-year high of $10.59. The company has a debt-to-equity ratio of 2.62, a current ratio of 2.55 and a quick ratio of 0.81.

Tronox (NYSE:TROX) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.13). The business had revenue of $868.00 million for the quarter, compared to the consensus estimate of $832.59 million. Tronox had a negative net margin of 17.96% and a negative return on equity of 24.34%. The firm’s revenue was up 18.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.28) earnings per share. On average, sell-side analysts predict 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 paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 5.1%. The ex-dividend date of this dividend is Monday, August 10th. Tronox’s payout ratio is presently -5.78%.

Institutional Investors Weigh In On Tronox

Several institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC bought a new stake in Tronox in the 1st quarter worth $2,102,000. Royal Bank of Canada raised its stake in shares of Tronox by 21,419.9% during the first 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 last quarter. Squarepoint Ops LLC bought a new position in shares of Tronox during the second quarter valued at about $4,355,000. Jennison Associates LLC purchased a new stake in shares of Tronox during the first quarter worth about $850,000. Finally, Van Lanschot Kempen Investment Management N.V. grew its stake in shares of Tronox by 123.0% in 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 purchasing an additional 2,398,038 shares during the last quarter. Hedge funds and other institutional investors own 73.36% of the company’s stock.

About Tronox

Tronox Holdings plc (NYSE:TROX) is a global producer of titanium dioxide pigment, a white pigment used to provide brightness, opacity and durability in products such as paints and coatings, plastics, paper and specialty materials. The company also produces titanium feedstocks, including titanium slag and synthetic rutile, as well as zircon and other mineral-sands products.

Tronox operates an integrated business that spans the mining and processing of mineral sands, the production of titanium feedstocks and the manufacture of titanium dioxide pigment.