Zacks Investment Research Lowers Tronox (NYSE:TROX) to Hold

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Zacks Investment Research lowered shares of Tronox (NYSE:TROX) from a buy rating to a hold rating in a research note released on Tuesday morning, Zacks.com reports.

According to Zacks, “Tronox Holdings plc is a vertically integrated mining and inorganic chemical business. The company mines and processes titanium ore, zircon and other minerals and manufactures titanium dioxide pigments to paints, plastics, paper and other everyday products. It operates primarily in South Africa, Australia, United States, the Netherlands and Australia. Tronox Holdings plc, formerly known as Tronox Limited, is based in London, United Kingdom. “

A number of other brokerages have also issued reports on TROX. ValuEngine lowered shares of Tronox from a hold rating to a sell rating in a research note on Thursday, August 8th. Alembic Global Advisors set a $19.00 price target on shares of Tronox and gave the stock a buy rating in a research note on Friday, May 10th. Finally, Morgan Stanley set a $15.00 price target on shares of Tronox and gave the stock a hold rating in a research note on Wednesday, June 19th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. Tronox currently has a consensus rating of Hold and an average price target of $15.00.

Shares of NYSE:TROX opened at $8.14 on Tuesday. The company has a debt-to-equity ratio of 4.80, a current ratio of 5.82 and a quick ratio of 4.72. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of 14.54 and a beta of 3.29. The stock’s 50-day simple moving average is $11.29. Tronox has a 1 year low of $6.46 and a 1 year high of $16.75.

Tronox (NYSE:TROX) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.17. The company had revenue of $791.00 million for the quarter, compared to analyst estimates of $776.00 million. Tronox had a negative net margin of 4.60% and a positive return on equity of 5.58%. The business’s revenue for the quarter was up 60.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.31 earnings per share. As a group, equities analysts forecast that Tronox will post 0.46 earnings per share for the current fiscal year.

In related news, Director Wayne A. Hinman acquired 5,000 shares of the stock in a transaction dated Thursday, August 8th. The stock was acquired at an average cost of $8.80 per share, with a total value of $44,000.00. Following the completion of the transaction, the director now owns 152,455 shares in the company, valued at approximately $1,341,604. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Timothy C. Carlson acquired 9,615 shares of the stock in a transaction dated Tuesday, June 4th. The shares were bought at an average cost of $10.40 per share, with a total value of $99,996.00. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 34,027 shares of company stock valued at $349,315. Corporate insiders own 1.30% of the company’s stock.

Several institutional investors have recently made changes to their positions in TROX. Optimum Investment Advisors acquired a new position in shares of Tronox during the first quarter worth about $39,000. Tower Research Capital LLC TRC acquired a new position in Tronox in the second quarter valued at approximately $43,000. Quantamental Technologies LLC acquired a new position in Tronox in the first quarter valued at approximately $64,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Tronox by 26.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,882 shares of the company’s stock valued at $75,000 after purchasing an additional 1,244 shares in the last quarter. Finally, Daiwa Securities Group Inc. acquired a new position in Tronox in the first quarter valued at approximately $92,000. 56.67% of the stock is owned by institutional investors and hedge funds.

About Tronox

Tronox Holdings plc engages in the mining, production, and marketing of inorganic minerals and chemicals in North America, South and Central America, Europe, the Middle East, Africa, and the Asia Pacific. It mines and processes titanium ore, zircon, and other minerals; and manufactures titanium dioxide pigments that add brightness and durability to paints, plastics, paper, and other everyday products.

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