The Goldman Sachs Group Trims Tronox (NYSE:TROX) Target Price to $16.00

Tronox (NYSE:TROX) had its price target lowered by The Goldman Sachs Group from $18.00 to $16.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities analysts have also commented on the stock. StockNews.com raised shares of Tronox from a sell rating to a hold rating in a research report on Monday, August 5th. Mizuho assumed coverage on shares of Tronox in a report on Friday, June 7th. They set a neutral rating and a $22.00 target price on the stock. Barclays dropped their price target on shares of Tronox from $22.00 to $19.00 and set an overweight rating for the company in a research report on Tuesday, August 6th. Finally, UBS Group reduced their target price on Tronox from $19.00 to $18.00 and set a neutral rating on the stock in a report on Tuesday, July 9th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Tronox presently has an average rating of Hold and an average price target of $18.33.

Tronox Stock Down 2.2 %

Shares of TROX stock opened at $12.68 on Thursday. Tronox has a 52-week low of $10.08 and a 52-week high of $20.70. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.08 and a current ratio of 2.98. The stock has a market cap of $2.00 billion, a price-to-earnings ratio of -5.69, a PEG ratio of 22.26 and a beta of 1.64. The firm’s 50-day moving average is $13.94 and its 200-day moving average is $16.38.

Tronox (NYSE:TROX) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.11). The company had revenue of $820.00 million during the quarter, compared to the consensus estimate of $848.04 million. Tronox had a negative net margin of 2.14% and a negative return on equity of 3.40%. The firm’s revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.16 earnings per share. Sell-side analysts predict that Tronox will post 0.44 EPS for the current year.

Tronox Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Monday, August 26th will be given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 3.94%. The ex-dividend date is Monday, August 26th. Tronox’s payout ratio is currently -22.42%.

Hedge Funds Weigh In On Tronox

Hedge funds have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in Tronox in the second quarter worth $76,000. Headlands Technologies LLC bought a new position in Tronox during the second quarter worth about $83,000. SG Americas Securities LLC purchased a new position in Tronox in the 1st quarter valued at approximately $124,000. nVerses Capital LLC purchased a new position in shares of Tronox in the second quarter valued at $121,000. Finally, TFO Wealth Partners LLC increased its position in shares of Tronox by 260,833.3% during the fourth quarter. TFO Wealth Partners LLC now owns 7,828 shares of the company’s stock valued at $111,000 after buying an additional 7,825 shares during the period. 73.36% of the stock is owned by hedge funds and other institutional investors.

Tronox Company Profile

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.