Tronox Holdings plc (NYSE:TROX) Receives $18.33 Average PT from Analysts

Shares of Tronox Holdings plc (NYSE:TROX) have been assigned an average rating of “Moderate Buy” from the six brokerages that are currently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $18.33.

TROX has been the topic of a number of research reports. StockNews.com raised shares of Tronox from a “sell” rating to a “hold” rating in a research note on Monday, August 5th. Mizuho began coverage on Tronox in a research note on Friday, June 7th. They issued a “neutral” rating and a $22.00 price target on the stock. UBS Group reduced their price objective on Tronox from $19.00 to $18.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Barclays lowered their target price on shares of Tronox from $22.00 to $19.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Finally, The Goldman Sachs Group reduced their target price on shares of Tronox from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday.

Institutional Trading of Tronox

A number of hedge funds and other institutional investors have recently made changes to their positions in TROX. Allspring Global Investments Holdings LLC boosted 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 buying an additional 861 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in Tronox by 4.2% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 25,065 shares of the company’s stock valued at $393,000 after purchasing an additional 1,014 shares during the period. ProShare Advisors LLC raised its position in Tronox by 8.5% in the first quarter. ProShare Advisors LLC now owns 21,049 shares of the company’s stock valued at $365,000 after purchasing an additional 1,657 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Tronox by 5.0% during the second quarter. The Manufacturers Life Insurance Company now owns 45,701 shares of the company’s stock worth $717,000 after purchasing an additional 2,180 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Tronox by 4.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 89,212 shares of the company’s stock worth $1,548,000 after buying an additional 4,204 shares during the period. Institutional investors and hedge funds own 73.36% of the company’s stock.

Tronox Price Performance

Shares of Tronox stock opened at $12.68 on Friday. The firm has a market cap of $2.00 billion, a PE ratio of -5.69, a P/E/G ratio of 22.26 and a beta of 1.64. The business has a 50-day moving average price of $13.94 and a 200 day moving average price of $16.38. The company has a quick ratio of 1.08, a current ratio of 2.98 and a debt-to-equity ratio of 1.44. Tronox has a twelve month low of $10.08 and a twelve month high of $20.70.

Tronox (NYSE:TROX) last announced its 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). Tronox had a negative return on equity of 3.40% and a negative net margin of 2.14%. The business had revenue of $820.00 million for the quarter, compared to analyst estimates of $848.04 million. During the same period in the previous year, the company earned $0.16 earnings per share. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. Sell-side analysts predict that Tronox will post 0.44 earnings per share for the current fiscal year.

Tronox Dividend Announcement

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

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.