Mizuho Increases Tronox (NYSE:TROX) Price Target to $3.50

Tronox (NYSE:TROX) had its target price increased by investment analysts at Mizuho from $3.00 to $3.50 in a report issued on Wednesday,Benzinga reports. The firm currently has an “underperform” rating on the stock. Mizuho’s target price suggests a potential downside of 21.08% from the company’s current price.

A number of other equities research analysts have also weighed in on TROX. Truist Financial dropped their price objective on shares of Tronox from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Monday, October 20th. Weiss Ratings reiterated a “sell (d)” rating on shares of Tronox in a research note on Wednesday, October 8th. Alembic Global Advisors reissued an “overweight” rating and issued a $6.00 price objective on shares of Tronox in a report on Monday, September 15th. UBS Group decreased their target price on Tronox from $3.90 to $3.80 and set a “neutral” rating for the company in a report on Tuesday, November 11th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Tronox in a report on Friday, October 3rd. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $4.98.

Tronox Stock Performance

Shares of NYSE:TROX opened at $4.44 on Wednesday. Tronox has a one year low of $2.86 and a one year high of $11.58. The firm’s 50 day simple moving average is $3.64 and its 200-day simple moving average is $4.42. The firm has a market cap of $703.18 million, a PE ratio of -2.16 and a beta of 1.19. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.73 and a current ratio of 2.72.

Tronox (NYSE:TROX) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.25). The company had revenue of $699.00 million for the quarter, compared to analysts’ expectations of $776.21 million. Tronox had a negative return on equity of 8.10% and a negative net margin of 11.39%.The company’s revenue for the quarter was down 13.1% compared to the same quarter last year. During the same quarter last year, the company earned ($0.13) earnings per share. As a group, equities analysts predict that Tronox will post 0.49 EPS for the current year.

Institutional Investors Weigh In On Tronox

Large investors have recently made changes to their positions in the stock. CIBC Bancorp USA Inc. acquired a new position in Tronox in the 3rd quarter valued at about $51,000. Caitong International Asset Management Co. Ltd acquired a new stake in Tronox during the third quarter worth $37,000. Dark Forest Capital Management LP raised its position in Tronox by 61.0% in the third quarter. Dark Forest Capital Management LP now owns 528,515 shares of the company’s stock valued at $2,125,000 after purchasing an additional 200,214 shares during the period. Voleon Capital Management LP grew its holdings in shares of Tronox by 372.5% during the 3rd quarter. Voleon Capital Management LP now owns 326,452 shares of the company’s stock worth $1,312,000 after purchasing an additional 257,360 shares during the period. Finally, Whitebox Advisors LLC acquired a new stake in shares of Tronox during the 3rd quarter worth about $1,486,000. 73.36% of the stock is currently 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.