Van ECK Associates Corp Buys 77,146 Shares of Tronox Holdings plc (NYSE:TROX)

Van ECK Associates Corp grew its stake in shares of Tronox Holdings plc (NYSE:TROX) by 7.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,142,856 shares of the company’s stock after buying an additional 77,146 shares during the period. Van ECK Associates Corp’s holdings in Tronox were worth $11,508,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Public Employees Retirement System of Ohio acquired a new stake in shares of Tronox in the 3rd quarter valued at approximately $66,000. KBC Group NV raised its holdings in Tronox by 59.4% in the fourth quarter. KBC Group NV now owns 6,949 shares of the company’s stock worth $70,000 after purchasing an additional 2,590 shares during the period. Point72 Asia Singapore Pte. Ltd. boosted 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 purchasing an additional 1,683 shares in the last quarter. nVerses Capital LLC boosted its position in shares of Tronox by 35.1% during the third quarter. nVerses Capital LLC now owns 10,400 shares of the company’s stock worth $152,000 after purchasing an additional 2,700 shares in the last quarter. Finally, Entropy Technologies LP acquired a new position in shares of Tronox in the 3rd quarter valued at $190,000. 73.36% of the stock is currently owned by institutional investors and hedge funds.

Tronox Stock Performance

Shares of TROX opened at $7.81 on Friday. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of -16.26 and a beta of 1.60. Tronox Holdings plc has a 12 month low of $7.72 and a 12 month high of $20.70. The firm has a fifty day simple moving average of $10.04 and a 200 day simple moving average of $11.96. The company has a current ratio of 2.72, a quick ratio of 0.90 and a debt-to-equity ratio of 1.42.

Tronox (NYSE:TROX) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03). Tronox had a negative return on equity of 3.91% and a negative net margin of 2.40%. Research analysts forecast that Tronox Holdings plc will post -0.05 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Morgan Stanley dropped their price objective 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. Truist Financial initiated coverage on Tronox in a report on Tuesday, January 28th. They set a “buy” rating and a $17.00 price objective on the stock. Barclays lowered their target price on Tronox from $18.00 to $16.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. UBS Group reduced their price target on shares of Tronox from $16.00 to $15.00 and set a “buy” rating for the company in a report on Thursday. Finally, BMO Capital Markets dropped their price objective on shares of Tronox from $21.00 to $17.00 and set an “outperform” rating on the stock in a report on Tuesday, October 29th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $16.00.

Tronox 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.