Tronox (NYSE:TROX) Given New $14.00 Price Target at Truist Financial

Tronox (NYSE:TROXGet Free Report) had its target price lowered by equities researchers at Truist Financial from $17.00 to $14.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price target points to a potential upside of 74.89% from the company’s previous close.

Other equities analysts have also issued research reports about the company. BMO Capital Markets reduced their price objective on Tronox from $21.00 to $17.00 and set an “outperform” rating for the company in a research note on Tuesday, October 29th. The Goldman Sachs Group lowered their price objective on Tronox from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Morgan Stanley cut their target price on shares of Tronox from $16.00 to $12.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Barclays lowered their price target on shares of Tronox from $18.00 to $16.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. Finally, UBS Group cut 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. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Tronox currently has a consensus rating of “Moderate Buy” and an average price target of $15.57.

View Our Latest Stock Report on Tronox

Tronox Stock Performance

Shares of NYSE:TROX traded up $0.18 during trading on Tuesday, hitting $8.01. The stock had a trading volume of 1,886,526 shares, compared to its average volume of 1,409,155. The stock has a 50-day simple moving average of $9.96 and a two-hundred day simple moving average of $11.88. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of -16.68 and a beta of 1.60. Tronox has a 12-month low of $7.72 and a 12-month high of $20.70. 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:TROXGet Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.03). Tronox had a negative net margin of 2.40% and a negative return on equity of 3.91%. On average, equities research analysts expect that Tronox will post -0.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tronox

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Thrivent Financial for Lutherans raised its position in shares of Tronox by 60.6% during the 4th quarter. Thrivent Financial for Lutherans now owns 6,938,289 shares of the company’s stock worth $69,869,000 after purchasing an additional 2,616,804 shares during the last quarter. FMR LLC increased its position in shares of Tronox by 4.7% during the third quarter. FMR LLC now owns 23,805,227 shares of the company’s stock worth $348,270,000 after purchasing an additional 1,073,674 shares in the last quarter. Lightrock Netherlands B.V. acquired a new position in Tronox in the 4th quarter valued at $9,183,000. Capital International Investors raised its stake in Tronox by 14.8% in the 4th quarter. Capital International Investors now owns 6,060,943 shares of the company’s stock valued at $61,034,000 after purchasing an additional 781,223 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Tronox by 26.5% in the 4th quarter. Bank of New York Mellon Corp now owns 2,630,144 shares of the company’s stock valued at $26,486,000 after purchasing an additional 551,645 shares in the last quarter. 73.36% of the stock is owned by hedge funds and other institutional investors.

About Tronox

(Get Free Report)

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.

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