The Goldman Sachs Group Cuts Tronox (NYSE:TROX) Price Target to $13.00

Tronox (NYSE:TROX) had its price objective decreased by The Goldman Sachs Group from $15.00 to $13.00 in a research report report published on Tuesday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Several other analysts have also recently weighed in on the stock. UBS Group raised shares of Tronox from a “neutral” rating to a “buy” rating and increased their price target for the company from $17.00 to $19.00 in a research note on Thursday, October 10th. Barclays lowered their price objective on Tronox from $18.00 to $16.00 and set an “overweight” rating for the company in a research report on Monday, October 28th. Finally, BMO Capital Markets reduced their target price on Tronox from $21.00 to $17.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 29th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $17.40.

Tronox Price Performance

TROX stock opened at $9.16 on Tuesday. Tronox has a 1 year low of $8.99 and a 1 year high of $20.70. The firm has a market capitalization of $1.45 billion, a PE ratio of -19.08 and a beta of 1.62. The company has a debt-to-equity ratio of 1.42, a current ratio of 2.72 and a quick ratio of 0.90. The business has a 50 day simple moving average of $11.06 and a 200-day simple moving average of $13.14.

Tronox (NYSE:TROX) last issued its earnings results on Thursday, October 24th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.30). The company had revenue of $804.00 million during the quarter, compared to analyst estimates of $790.63 million. Tronox had a negative return on equity of 3.91% and a negative net margin of 2.40%. The firm’s revenue was up 21.5% compared to the same quarter last year. During the same period last year, the business earned ($0.08) earnings per share. Equities research analysts anticipate that Tronox will post -0.04 earnings per share for the current fiscal year.

Tronox Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, November 11th were paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 5.46%. The ex-dividend date of this dividend was Friday, November 8th. Tronox’s dividend payout ratio (DPR) is -104.17%.

Institutional Investors Weigh In On Tronox

Institutional investors have recently modified their holdings of the company. Natixis Advisors LLC boosted its holdings in Tronox by 136.4% during the 2nd quarter. Natixis Advisors LLC now owns 51,844 shares of the company’s stock valued at $813,000 after acquiring an additional 29,909 shares during the period. Rhumbline Advisers boosted its stake in shares of Tronox by 5.3% in the second quarter. Rhumbline Advisers now owns 199,568 shares of the company’s stock valued at $3,131,000 after purchasing an additional 9,969 shares during the period. Headlands Technologies LLC purchased a new stake in Tronox during the 2nd quarter worth approximately $83,000. State of New Jersey Common Pension Fund D purchased a new stake in Tronox during the 2nd quarter worth approximately $1,480,000. Finally, Primecap Management Co. CA lifted its holdings in Tronox by 0.8% during the 2nd quarter. Primecap Management Co. CA now owns 1,311,700 shares of the company’s stock worth $20,581,000 after buying an additional 10,000 shares in the last quarter. 73.36% of the stock is owned by institutional investors and hedge funds.

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.