Tronox Holdings plc (NYSE:TROX) Given Average Recommendation of “Moderate Buy” by Brokerages

Tronox Holdings plc (NYSE:TROX) has been given an average rating of “Moderate Buy” by the five brokerages that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $18.00.

TROX has been the subject of a number of recent analyst reports. StockNews.com raised Tronox from a “sell” rating to a “hold” rating in a research report on Monday, August 5th. The Goldman Sachs Group dropped their price target 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. Barclays decreased their price objective on shares of Tronox from $18.00 to $16.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. UBS Group upgraded shares of Tronox from a “neutral” rating to a “buy” rating and lifted their target price for the company from $17.00 to $19.00 in a report on Thursday, October 10th. Finally, BMO Capital Markets decreased their price target on Tronox from $21.00 to $17.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 29th.

Tronox Stock Performance

Tronox stock opened at $11.81 on Friday. The firm has a 50 day simple moving average of $13.16 and a 200-day simple moving average of $15.60. The stock has a market cap of $1.87 billion, a price-to-earnings ratio of -24.60 and a beta of 1.66. The company has a debt-to-equity ratio of 1.42, a current ratio of 2.72 and a quick ratio of 0.90. Tronox has a 1-year low of $10.77 and a 1-year high of $20.70.

Tronox (NYSE:TROX) last issued its quarterly earnings data on Thursday, October 24th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.30). Tronox had a negative return on equity of 3.91% and a negative net margin of 2.40%. The business had revenue of $804.00 million during the quarter, compared to analysts’ expectations of $790.63 million. During the same quarter in the previous year, the company posted ($0.08) earnings per share. The company’s revenue was up 21.5% on a year-over-year basis. On average, analysts expect that Tronox will post -0.04 EPS for the current year.

Tronox Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, November 11th will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date is Friday, November 8th. Tronox’s dividend payout ratio (DPR) is currently -104.16%.

Institutional Trading of Tronox

A number of large investors have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. acquired a new position in Tronox during the 2nd quarter worth $76,000. Headlands Technologies LLC purchased a new position in shares of Tronox in the 2nd quarter valued at about $83,000. nVerses Capital LLC acquired a new position in shares of Tronox during the second quarter worth about $121,000. SG Americas Securities LLC purchased a new stake in shares of Tronox during the first quarter worth approximately $124,000. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of 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. Hedge funds and other institutional investors 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.