Tronox Holdings PLC (NYSE:TROX) Stock Has Consensus Target Price of $5.83 According to Brokerages

Tronox Holdings PLC (NYSE:TROX) has received an average rating of “Reduce” from the nine brokerages that are currently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $5.83.

A number of research firms recently issued reports on TROX. Mizuho lowered their target price on Tronox from $5.50 to $4.50 and set an “underperform” rating on the stock in a report on Wednesday, September 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Tronox in a report on Friday, August 7th. UBS Group reduced their target price on shares of Tronox from $7.00 to $4.50 and set a “neutral” rating for the company in a report on Monday, October 5th. The Goldman Sachs Group decreased their price target on shares of Tronox from $6.50 to $4.00 and set a “sell” rating on the stock in a research report on Friday, October 9th. Finally, JPMorgan Chase & Co. cut Tronox from a “neutral” rating to an “underweight” rating and dropped their price target for the company from $7.00 to $5.00 in a report on Thursday, August 13th.

Hedge Funds Weigh In On Tronox

Institutional investors have recently bought and sold shares of the stock. Vontobel Holding Ltd. acquired a new stake in Tronox during the 3rd quarter worth about $43,000. Shah Capital Management boosted its holdings in shares of Tronox by 13.4% in the third quarter. Shah Capital Management now owns 2,915,807 shares of the company’s stock worth $11,517,000 after buying an additional 344,993 shares during the period. CoreCap Advisors LLC purchased a new position in shares of Tronox in the third quarter worth approximately $30,000. Squarepoint Ops LLC purchased a new position in shares of Tronox in the second quarter worth approximately $4,355,000. Finally, AlphaGrep UK Ltd purchased a new position in shares of Tronox in the second quarter worth approximately $198,000. Hedge funds and other institutional investors own 73.36% of the company’s stock.

Tronox Price Performance

Shares of Tronox stock traded down $0.07 on Friday, hitting $3.46. The company had a trading volume of 1,518,777 shares, compared to its average volume of 2,237,751. Tronox has a 52 week low of $2.86 and a 52 week 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. The company has a market cap of $553.36 million, a PE ratio of -1.00 and a beta of 0.92. The business has a 50-day simple moving average of $4.66 and a 200-day simple moving average of $6.67.

Tronox (NYSE:TROX) last announced its 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). The firm had revenue of $868.00 million for the quarter, compared to the consensus estimate of $832.59 million. Tronox had a negative return on equity of 24.34% and a negative net margin of 17.96%. Tronox’s revenue for the quarter was up 18.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.28) EPS. Research analysts expect that Tronox will post -1.41 EPS for the current fiscal year.

Tronox Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Monday, August 10th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 5.8%. The ex-dividend date of this dividend was Monday, August 10th. Tronox’s dividend payout ratio is currently -5.78%.

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.