Tronox (NYSE:TROX) Shares Down 6.9% Following Analyst Downgrade

Tronox Holdings plc (NYSE:TROX)’s stock price was down 6.9% during trading on Friday after UBS Group lowered their price target on the stock from $16.00 to $15.00. UBS Group currently has a buy rating on the stock. Tronox traded as low as $8.22 and last traded at $8.15. Approximately 894,693 shares changed hands during trading, a decline of 32% from the average daily volume of 1,307,266 shares. The stock had previously closed at $8.75.

Several other research firms have also recently weighed in on TROX. Morgan Stanley cut their target price on Tronox from $16.00 to $12.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. The Goldman Sachs Group dropped their target price on shares of Tronox from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Barclays cut their price target on Tronox from $18.00 to $16.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. Truist Financial began coverage on Tronox in a report on Tuesday, January 28th. They issued a “buy” rating and a $17.00 target price on the stock. Finally, BMO Capital Markets cut their target price on Tronox from $21.00 to $17.00 and set an “outperform” rating on the stock in a report on Tuesday, October 29th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $16.00.

Institutional Investors Weigh In On Tronox

Several large investors have recently made changes to their positions in TROX. Sterling Capital Management LLC increased its position in shares of Tronox by 832.6% during the 4th quarter. Sterling Capital Management LLC now owns 3,805 shares of the company’s stock valued at $38,000 after purchasing an additional 3,397 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Tronox in the 3rd quarter worth about $66,000. KBC Group NV increased its holdings in Tronox by 59.4% in the 4th quarter. KBC Group NV now owns 6,949 shares of the company’s stock worth $70,000 after acquiring an additional 2,590 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. increased its holdings in Tronox by 34.6% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,548 shares of the company’s stock worth $96,000 after acquiring an additional 1,683 shares during the last quarter. Finally, Mariner LLC purchased a new stake in Tronox in the 4th quarter worth about $105,000. 73.36% of the stock is owned by hedge funds and other institutional investors.

Tronox Trading Down 7.1 %

The firm has a fifty day moving average of $10.12 and a two-hundred day moving average of $12.05. The company has a market cap of $1.28 billion, a PE ratio of -16.93 and a beta of 1.60. The company has a current ratio of 2.72, a quick ratio of 0.90 and a debt-to-equity ratio of 1.42.

Tronox (NYSE:TROX) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.03). Tronox had a negative return on equity of 3.91% and a negative net margin of 2.40%. As a group, sell-side analysts predict that Tronox Holdings plc will post -0.05 EPS for the current year.

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.