Tronox Ltd (NYSE:TROX) was down 7.6% during mid-day trading on Friday . The stock traded as low as $10.82 and last traded at $10.82, approximately 1,769,000 shares changed hands during trading. A decline of 4% from the average daily volume of 1,848,262 shares. The stock had previously closed at $11.71.
A number of analysts have weighed in on the stock. TheStreet downgraded shares of Tronox from a “c-” rating to a “d+” rating in a report on Friday, October 11th. Zacks Investment Research raised shares of Tronox from a “hold” rating to a “strong-buy” rating and set a $13.00 price target for the company in a report on Tuesday. Alembic Global Advisors reissued a “buy” rating and issued a $19.00 price target on shares of Tronox in a report on Monday, December 2nd. Finally, ValuEngine downgraded shares of Tronox from a “sell” rating to a “strong sell” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $16.67.
The company has a current ratio of 3.26, a quick ratio of 1.62 and a debt-to-equity ratio of 3.80. The business’s fifty day simple moving average is $11.32 and its two-hundred day simple moving average is $9.97. The stock has a market capitalization of $1.66 billion, a P/E ratio of 19.32 and a beta of 3.49.
Tronox (NYSE:TROX) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.06. Tronox had a negative net margin of 4.79% and a positive return on equity of 6.56%. The firm had revenue of $768.00 million during the quarter, compared to the consensus estimate of $797.64 million. During the same period in the prior year, the firm earned $0.17 EPS. The business’s revenue was up 68.4% on a year-over-year basis. On average, equities research analysts anticipate that Tronox Ltd will post 0.45 earnings per share for the current year.
Several hedge funds have recently made changes to their positions in the company. Nuveen Asset Management LLC acquired a new position in shares of Tronox in the 2nd quarter valued at $102,922,000. BlackRock Inc. increased its position in shares of Tronox by 0.6% during the 2nd quarter. BlackRock Inc. now owns 6,304,200 shares of the company’s stock worth $80,568,000 after purchasing an additional 40,275 shares in the last quarter. Luminus Management LLC increased its position in shares of Tronox by 56.1% during the 2nd quarter. Luminus Management LLC now owns 4,996,065 shares of the company’s stock worth $63,850,000 after purchasing an additional 1,794,959 shares in the last quarter. Maple Rock Capital Partners Inc. increased its position in shares of Tronox by 6.5% during the 3rd quarter. Maple Rock Capital Partners Inc. now owns 4,335,866 shares of the company’s stock worth $35,988,000 after purchasing an additional 264,094 shares in the last quarter. Finally, Private Capital Management LLC increased its position in shares of Tronox by 10.8% during the 3rd quarter. Private Capital Management LLC now owns 3,109,866 shares of the company’s stock worth $25,812,000 after purchasing an additional 303,548 shares in the last quarter. Institutional investors own 58.19% of the company’s stock.
About Tronox (NYSE:TROX)
Tronox Holdings plc engages in the mining, production, and marketing of inorganic minerals and chemicals in North America, South and Central America, Europe, the Middle East, Africa, and the Asia Pacific. It mines and processes titanium ore, zircon, and other minerals; and manufactures titanium dioxide pigments that add brightness and durability to paints, plastics, paper, and other everyday products.
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