Barclays Cuts Tronox (NYSE:TROX) Price Target to $16.00

Tronox (NYSE:TROX) had its target price trimmed by Barclays from $18.00 to $16.00 in a research note released on Monday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other equities analysts have also recently issued reports about the stock. BMO Capital Markets decreased their price objective on shares of Tronox from $22.00 to $21.00 and set an “outperform” rating for the company in a research report on Monday, September 30th. UBS Group raised shares of Tronox from a “neutral” rating to a “buy” rating and upped their price objective for the company from $17.00 to $19.00 in a research report on Thursday, October 10th. The Goldman Sachs Group decreased their price objective on shares of Tronox from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, September 19th. Finally, StockNews.com raised shares of Tronox from a “sell” rating to a “hold” rating in a research report on Monday, August 5th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

Tronox Stock Up 1.5 %

Shares of Tronox stock opened at $12.27 on Monday. The company has a fifty day moving average price of $13.45 and a 200 day moving average price of $15.82. The company has a current ratio of 2.98, a quick ratio of 1.08 and a debt-to-equity ratio of 1.44. Tronox has a twelve month low of $10.24 and a twelve month high of $20.70. The stock has a market cap of $1.94 billion, a price-to-earnings ratio of -5.50, a price-to-earnings-growth ratio of 26.03 and a beta of 1.64.

Tronox (NYSE:TROX) last posted its quarterly earnings data on Thursday, October 24th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.30). The firm had revenue of $804.00 million during the quarter, compared to analysts’ expectations of $790.63 million. Tronox had a negative net margin of 2.40% and a negative return on equity of 3.91%. The business’s quarterly revenue was up 21.5% on a year-over-year basis. During the same period in the previous year, the company earned ($0.08) earnings per share. Equities research analysts forecast that Tronox will post 0.39 earnings per share for the current fiscal year.

Tronox Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Monday, August 26th were paid a $0.125 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 4.07%. Tronox’s dividend payout ratio (DPR) is presently -22.42%.

Institutional Investors Weigh In On Tronox

Institutional investors and hedge funds have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Tronox during the second quarter worth about $76,000. Headlands Technologies LLC acquired a new stake in Tronox during the second quarter worth about $83,000. SG Americas Securities LLC acquired a new stake in Tronox during the first quarter worth about $124,000. nVerses Capital LLC acquired a new stake in Tronox during the second quarter worth about $121,000. Finally, Allspring Global Investments Holdings LLC raised its stake in Tronox by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 10,232 shares of the company’s stock worth $178,000 after acquiring an additional 861 shares during the period. Institutional investors and hedge funds own 73.36% of the company’s stock.

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.