Tronox (NYSE:TROX) Given New $13.00 Price Target at The Goldman Sachs Group

Tronox (NYSE:TROX) had its price objective dropped by investment analysts at The Goldman Sachs Group from $15.00 to $13.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s price target indicates a potential upside of 35.14% from the company’s previous close.

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

Tronox Stock Performance

TROX stock opened at $9.62 on Tuesday. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of -20.04 and a beta of 1.62. Tronox has a twelve month low of $9.43 and a twelve month high of $20.70. The business’s fifty day simple moving average is $11.24 and its two-hundred day simple moving average is $13.26. The company has a quick ratio of 0.90, a current ratio of 2.72 and a debt-to-equity ratio of 1.42.

Tronox (NYSE:TROX) last issued its quarterly earnings data 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 business had revenue of $804.00 million for the quarter, compared to analysts’ expectations of $790.63 million. Tronox had a negative net margin of 2.40% and a negative return on equity of 3.91%. The business’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.08) earnings per share. Analysts predict that Tronox will post -0.04 earnings per share for the current year.

Institutional Trading of Tronox

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio purchased a new stake in Tronox in the 3rd quarter worth approximately $66,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Tronox during the second quarter valued at $76,000. Headlands Technologies LLC purchased a new position in Tronox in the second quarter valued at $83,000. nVerses Capital LLC raised its position in shares of Tronox by 35.1% in the third quarter. nVerses Capital LLC now owns 10,400 shares of the company’s stock worth $152,000 after acquiring an additional 2,700 shares during the period. Finally, Entropy Technologies LP purchased a new stake in shares of Tronox during the 3rd quarter worth about $190,000. 73.36% of the stock is owned by institutional investors and hedge funds.

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.