Mizuho Lowers Tronox (NYSE:TROX) Price Target to $9.00

Tronox (NYSE:TROX) had its target price lowered by equities research analysts at Mizuho from $11.00 to $9.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Mizuho’s price objective would suggest a potential upside of 29.93% from the stock’s current price.

Several other brokerages have also recently issued reports on TROX. The Goldman Sachs Group cut their target price on Tronox from $13.00 to $11.50 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Morgan Stanley cut their target price on Tronox from $16.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. UBS Group decreased their price objective on shares of Tronox from $16.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Finally, Truist Financial reduced their target price on shares of Tronox from $17.00 to $14.00 and set a “buy” rating for the company in a research report on Tuesday, February 18th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $13.50.

Tronox Trading Down 0.2 %

Shares of TROX stock traded down $0.01 during mid-day trading on Thursday, reaching $6.93. 66,074 shares of the stock traded hands, compared to its average volume of 1,737,315. The company has a market cap of $1.09 billion, a price-to-earnings ratio of -22.32 and a beta of 1.64. The company has a quick ratio of 0.90, a current ratio of 2.47 and a debt-to-equity ratio of 1.54. The stock’s fifty day simple moving average is $8.99 and its two-hundred day simple moving average is $11.20. Tronox has a 1-year low of $6.64 and a 1-year high of $20.70.

Tronox (NYSE:TROX) last posted its earnings results on Wednesday, February 12th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03). Tronox had a negative return on equity of 0.63% and a negative net margin of 1.56%. On average, research analysts anticipate that Tronox will post 0.49 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. lifted its position in shares of Tronox by 34.6% during the third 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 in the last quarter. Stifel Financial Corp raised its stake in shares of Tronox by 1.9% during the 4th quarter. Stifel Financial Corp now owns 101,264 shares of the company’s stock valued at $1,020,000 after purchasing an additional 1,891 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Tronox by 3.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 67,532 shares of the company’s stock worth $680,000 after purchasing an additional 2,201 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Tronox by 9.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,548 shares of the company’s stock valued at $399,000 after buying an additional 2,488 shares in the last quarter. Finally, KBC Group NV grew its holdings in Tronox by 59.4% during the 4th quarter. KBC Group NV now owns 6,949 shares of the company’s stock valued at $70,000 after buying an additional 2,590 shares in the last quarter. 73.36% of the stock is currently owned by hedge funds and other institutional investors.

Tronox Company Profile

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.