Tronox Holdings PLC (NYSE:TROX) Receives $6.40 Consensus PT from Brokerages

Tronox Holdings PLC (NYSE:TROX) has been given a consensus recommendation of “Hold” by the twelve brokerages that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $6.40.

Several research firms have issued reports on TROX. BMO Capital Markets restated a “market perform” rating on shares of Tronox in a report on Friday, February 20th. Weiss Ratings reiterated a “sell (d)” rating on shares of Tronox in a research note on Wednesday, January 21st. Truist Financial raised their price target on shares of Tronox from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Thursday, January 29th. Mizuho lifted their price target on shares of Tronox from $4.50 to $5.00 and gave the stock an “underperform” rating in a research note on Monday, March 23rd. Finally, The Goldman Sachs Group upped their price target on shares of Tronox from $5.50 to $7.50 and gave the company a “buy” rating in a report on Thursday, January 29th.

Tronox Stock Performance

NYSE:TROX opened at $9.12 on Tuesday. The firm has a 50-day moving average of $7.18 and a two-hundred day moving average of $5.20. The company has a debt-to-equity ratio of 2.16, a current ratio of 2.46 and a quick ratio of 0.67. The stock has a market cap of $1.45 billion, a P/E ratio of -3.07 and a beta of 1.11. Tronox has a 1-year low of $2.86 and a 1-year high of $9.31.

Tronox (NYSE:TROX) last announced its earnings results on Wednesday, February 18th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.17). Tronox had a negative return on equity of 14.75% and a negative net margin of 16.22%.The business had revenue of $730.00 million for the quarter, compared to analysts’ expectations of $730.22 million. During the same period in the previous year, the firm posted $0.03 earnings per share. The firm’s revenue was up 8.0% compared to the same quarter last year. On average, research analysts expect that Tronox will post 0.49 earnings per share for the current fiscal year.

Tronox Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Monday, February 23rd will be given a $0.05 dividend. The ex-dividend date of this dividend is Monday, February 23rd. This represents a $0.20 annualized dividend and a dividend yield of 2.2%. Tronox’s payout ratio is presently -6.73%.

Insiders Place Their Bets

In related news, Director Jean Francois Turgeon sold 18,563 shares of the business’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $6.60, for a total value of $122,515.80. Following the completion of the sale, the director directly owned 754,009 shares of the company’s stock, valued at $4,976,459.40. The trade was a 2.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jonathan Flood sold 8,008 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $6.58, for a total value of $52,692.64. Following the sale, the insider owned 92,861 shares in the company, valued at $611,025.38. The trade was a 7.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 172,711 shares of company stock worth $1,145,137. Company insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in TROX. Hsbc Holdings PLC acquired a new stake in shares of Tronox during the 4th quarter valued at approximately $80,000. Alpine Global Management LLC boosted its holdings in Tronox by 897.4% in the fourth quarter. Alpine Global Management LLC now owns 21,531 shares of the company’s stock worth $90,000 after purchasing an additional 24,231 shares during the period. Invesco Ltd. boosted its holdings in Tronox by 34.1% in the fourth quarter. Invesco Ltd. now owns 264,873 shares of the company’s stock worth $1,105,000 after purchasing an additional 67,412 shares during the period. Mercer Global Advisors Inc. ADV bought a new stake in Tronox during the fourth quarter valued at $77,000. Finally, Empowered Funds LLC increased its stake in Tronox by 10.9% during the fourth quarter. Empowered Funds LLC now owns 607,939 shares of the company’s stock valued at $2,535,000 after purchasing an additional 59,648 shares during the last quarter. Institutional investors and hedge funds own 73.36% of the company’s stock.

About Tronox

Tronox Holdings plc is a vertically integrated global producer of titanium dioxide (TiO?) pigment and specialty materials. The company’s operations encompass the full supply chain for TiO?, from mining and processing titanium-bearing ores—such as ilmenite and rutile—to the production of high-purity pigment for use in paints, coatings, plastics, paper and other industrial applications. In addition to TiO?, Tronox’s product portfolio includes zircon, rare earth byproducts and other specialty minerals that serve a range of industrial markets.

Tronox operates a network of mines, processing facilities and pigment plants located across North America, Europe, the Middle East, Australia and South Africa.