Tronox (NYSE:TROX) Stock Falls 5.4% After Analyst Downgrade

Tronox Holdings PLC (NYSE:TROX – Get Free Report)’s share price was down 5.4% during trading on Thursday after Mizuho lowered their price target on the stock from $5.50 to $4.50. Mizuho currently has an underperform rating on the stock. Tronox traded as low as $3.75 and last traded at $3.7350. 320,769 shares changed hands during trading, a decline of 90% from the average daily volume of 3,150,729 shares. The stock had previously closed at $3.95.

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

Get Our Latest Analysis on TROX

Institutional Investors Weigh In On Tronox

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp grew its stake in Tronox by 0.6% during the 1st quarter. Bank of New York Mellon Corp now owns 500,461 shares of the company’s stock worth $4,890,000 after buying an additional 3,225 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in shares of Tronox by 6.3% in the first quarter. Lazard Asset Management LLC now owns 64,985 shares of the company’s stock valued at $635,000 after acquiring an additional 3,861 shares during the period. Swiss National Bank boosted its holdings in shares of Tronox by 2.6% in the first quarter. Swiss National Bank now owns 235,300 shares of the company’s stock valued at $2,299,000 after acquiring an additional 5,900 shares during the period. Quantinno Capital Management LP grew its position in shares of Tronox by 6.7% during the first quarter. Quantinno Capital Management LP now owns 167,851 shares of the company’s stock worth $1,640,000 after acquiring an additional 10,595 shares during the last quarter. Finally, Abel Hall LLC acquired a new position in shares of Tronox in the 1st quarter valued at $121,000. 73.36% of the stock is owned by hedge funds and other institutional investors.

Tronox Stock Down 5.6%

The business’s fifty day moving average price is $5.26 and its 200 day moving average price is $7.02. The firm has a market capitalization of $595.20 million, a price-to-earnings ratio of -1.08 and a beta of 0.79. The company has a current ratio of 2.55, a quick ratio of 0.81 and a debt-to-equity ratio of 2.62.

Tronox (NYSE:TROX – Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $868.00 million during the quarter, compared to analyst estimates of $832.59 million. During the same quarter in the prior year, the firm posted ($0.28) earnings per share. The company’s revenue for the quarter was up 18.7% compared to the same quarter last year. On average, equities analysts expect that Tronox Holdings PLC will post -1.37 EPS for the current year.

Tronox Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Monday, August 10th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, August 10th. This represents a $0.20 annualized dividend and a yield of 5.4%. Tronox’s dividend payout ratio is currently -5.78%.

Tronox Company Profile

(Get Free Report)

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.

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