Brokerages Set Tronox Holdings plc (NYSE:TROX) Target Price at $18.00

Tronox Holdings plc (NYSE:TROX) has been assigned a consensus recommendation of “Moderate Buy” from the five ratings firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $18.00.

Several research analysts recently commented on the stock. The Goldman Sachs Group reduced their price objective on shares of Tronox from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, September 19th. UBS Group raised Tronox from a “neutral” rating to a “buy” rating and upped their price target for the stock from $17.00 to $19.00 in a research report 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.

Institutional Trading of Tronox

Several large investors have recently made changes to their positions in TROX. Driehaus Capital Management LLC lifted its position in Tronox by 109.3% during the second quarter. Driehaus Capital Management LLC now owns 2,646,916 shares of the company’s stock valued at $41,530,000 after purchasing an additional 1,381,975 shares during the period. FMR LLC lifted its holdings in shares of Tronox by 4.7% in the 3rd quarter. FMR LLC now owns 23,805,227 shares of the company’s stock valued at $348,270,000 after buying an additional 1,073,674 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Tronox by 54.6% in the third quarter. Victory Capital Management Inc. now owns 1,537,723 shares of the company’s stock worth $22,497,000 after buying an additional 543,091 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Tronox during the second quarter worth about $4,489,000. Finally, Algert Global LLC raised its position in Tronox by 77.0% during the third quarter. Algert Global LLC now owns 546,967 shares of the company’s stock valued at $8,002,000 after acquiring an additional 237,916 shares in the last quarter. 73.36% of the stock is owned by hedge funds and other institutional investors.

Tronox Price Performance

NYSE TROX opened at $10.07 on Friday. The company has a market cap of $1.59 billion, a PE ratio of -20.98 and a beta of 1.59. The firm’s 50 day moving average price is $11.49 and its 200-day moving average price is $13.51. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.90 and a current ratio of 2.72. Tronox has a 52-week low of $9.87 and a 52-week high of $20.70.

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

Tronox Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, November 11th were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 4.97%. The ex-dividend date of this dividend was Friday, November 8th. Tronox’s dividend payout ratio (DPR) is -104.17%.

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.