Tronox (NYSE:TROX) Price Target Cut to $16.00 by Analysts at The Goldman Sachs Group

Tronox (NYSE:TROX) had its price target dropped by investment analysts at The Goldman Sachs Group from $18.00 to $16.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 25.49% from the company’s current price.

A number of other research firms have also recently weighed in on TROX. Mizuho assumed coverage on shares of Tronox in a report on Friday, June 7th. They issued a “neutral” rating and a $22.00 price objective for the company. Barclays dropped their target price on shares of Tronox from $22.00 to $19.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. UBS Group dropped their target price on shares of Tronox from $19.00 to $18.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Finally, StockNews.com upgraded shares of Tronox from a “sell” rating to a “hold” rating in a research report on Monday, August 5th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Tronox currently has an average rating of “Hold” and a consensus target price of $18.33.

Tronox Stock Performance

Shares of Tronox stock traded up $0.57 during trading on Thursday, hitting $12.75. 821,138 shares of the company’s stock were exchanged, compared to its average volume of 1,124,399. 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 business has a 50-day simple moving average of $14.09 and a 200-day simple moving average of $16.41. Tronox has a 52-week low of $10.08 and a 52-week high of $20.70. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of -5.72, a PEG ratio of 22.26 and a beta of 1.64.

Tronox (NYSE:TROX) last released its quarterly earnings data 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). Tronox had a negative net margin of 2.14% and a negative return on equity of 3.40%. The firm had revenue of $820.00 million during the quarter, compared to analysts’ expectations of $848.04 million. During the same period in the previous year, the firm posted $0.16 EPS. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. On average, research analysts forecast that Tronox will post 0.44 EPS for the current year.

Hedge Funds Weigh In On Tronox

Institutional investors and hedge funds have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in Tronox in the 2nd quarter valued at about $76,000. Headlands Technologies LLC purchased a new stake in shares of Tronox in the 2nd quarter valued at approximately $83,000. TFO Wealth Partners LLC raised 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 valued at $111,000 after acquiring an additional 7,825 shares during the period. nVerses Capital LLC purchased a new stake in shares of Tronox in the 2nd quarter valued at approximately $121,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Tronox in the 1st quarter valued at approximately $124,000. 73.36% of the stock is currently owned by institutional investors and hedge funds.

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.