The Goldman Sachs Group Cuts Tronox (NYSE:TROX) Price Target to $18.00

Tronox (NYSE:TROX) had its price objective trimmed by The Goldman Sachs Group from $21.00 to $18.00 in a research report report published on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities analysts have also recently commented on the stock. Mizuho initiated coverage on shares of Tronox in a research note on Friday, June 7th. They issued a neutral rating and a $22.00 price target for the company. Barclays cut their price target on shares of Tronox from $22.00 to $19.00 and set an overweight rating for the company in a research note on Tuesday, August 6th. StockNews.com raised shares of Tronox from a sell rating to a hold rating in a research note on Monday, August 5th. Finally, UBS Group cut their price target on shares of Tronox from $19.00 to $18.00 and set a neutral rating for the company in a research note on Tuesday, July 9th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $18.67.

Tronox Stock Performance

Tronox stock opened at $12.37 on Tuesday. The firm’s 50 day simple moving average is $14.75 and its 200 day simple moving average is $16.55. The company has a current ratio of 2.98, a quick ratio of 1.08 and a debt-to-equity ratio of 1.44. The firm has a market capitalization of $1.95 billion, a PE ratio of -5.55, a price-to-earnings-growth ratio of 24.16 and a beta of 1.64. Tronox has a 1-year low of $10.08 and a 1-year high of $20.70.

Tronox (NYSE:TROX) last posted its earnings results on Thursday, August 1st. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.11). The firm had revenue of $820.00 million for the quarter, compared to the consensus estimate of $848.04 million. Tronox had a negative return on equity of 3.40% and a negative net margin of 2.14%. The business’s revenue was up 3.3% on a year-over-year basis. During the same period last year, the company posted $0.16 EPS. As a group, analysts expect that Tronox will post 0.44 earnings per share for the current fiscal year.

Tronox Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Monday, August 26th will be issued a $0.125 dividend. The ex-dividend date of this dividend is Monday, August 26th. This represents a $0.50 annualized dividend and a yield of 4.04%. Tronox’s dividend payout ratio (DPR) is presently -22.42%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC bought a new position in shares of Tronox in the 4th quarter worth about $27,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Tronox in the 2nd quarter worth about $76,000. Headlands Technologies LLC bought a new position in shares of Tronox in the 2nd quarter worth about $83,000. TFO Wealth Partners LLC increased its stake in shares of Tronox by 260,833.3% in the 4th quarter. TFO Wealth Partners LLC now owns 7,828 shares of the company’s stock worth $111,000 after acquiring an additional 7,825 shares in the last quarter. Finally, nVerses Capital LLC bought a new position in shares of Tronox in the 2nd quarter worth about $121,000. 73.36% of the stock is currently owned by 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.