Tronox's Price Target Reduced by Truist Financial

Tronox (NYSE:TROX - Get Free Report) saw its target price decreased from $17.00 to $14.00, according to a report released by Truist Financial on Tuesday. Despite this reduction, the brokerage maintains a "buy" rating on the stock, indicating a positive outlook for potential investors. The new price target implies a possible upside of 74.89% based on the company's previous closing price.

Market Analyst Ratings

Other equity research analysts have also adjusted their ratings and price targets for Tronox. For instance, BMO Capital Markets reduced their target from $21.00 to $17.00, assigning an "outperform" rating to the company. Meanwhile, The Goldman Sachs Group lowered its target from $15.00 to $13.00 with a "buy" stance. Morgan Stanley has also revised its target down from $16.00 to $12.00 while giving an "equal weight" rating. Additionally, Barclays lowered its price target for Tronox from $18.00 to $16.00 and classified it as "overweight." UBS Group amended its outlook as well, cutting the target from $16.00 to $15.00, but still maintains a "buy" rating. Currently, three analysts rate the stock as a hold, while five give it a buy rating. As per MarketBeat data, Tronox has an average consensus rating of "Moderate Buy" and an average target price of $15.57.

Tronox Stock Overview

During trading on Tuesday, shares of NYSE:TROX rose by $0.18 to reach $8.01. The trading volume was notable, with 1,886,526 shares exchanged, compared to the typical average of 1,409,155. Tronox’s stock has a 50-day moving average of $9.96 and a 200-day average of $11.88. Currently, the market capitalization stands at $1.26 billion, the price-to-earnings ratio is -16.68, and the stock has a beta of 1.60. Over the past year, the shares have seen a low of $7.72 and a high of $20.70, which demonstrates significant volatility. Financial metrics indicate Tronox has a quick ratio of 0.90 and a debt-to-equity ratio of 1.42, suggesting some financial burden in the mix.

Recent Financial Performance

Last reported quarterly earnings were on Wednesday, February 12, where Tronox reported earnings of $0.03 per share, missing the consensus estimate of $0.06 by $0.03. The company has experienced a negative net margin of 2.40% and a negative return on equity of 3.91%. Analysts expect Tronox to report average earnings per share of -0.05 for the current fiscal year.

Institutional Investor Activity

In terms of institutional investors, several hedge funds have altered their holdings in Tronox. Thrivent Financial for Lutherans increased its stake in the fourth quarter by 60.6%, now owning 6,938,289 shares valued at approximately $69,869,000. Similarly, FMR LLC raised its position by 4.7%, owning 23,805,227 shares, valued at $348,270,000 after additional purchases. New investments have also been seen by Lightrock Netherlands B.V., which acquired shares valued at around $9,183,000. Furthermore, Capital International Investors raised its stake by 14.8% in the same period, now holding 6,060,943 shares worth $61,034,000. Overall, approximately 73.36% of Tronox stock is held by hedge funds and other institutional investors.

About Tronox

Tronox Holdings plc operates as a vertically integrated manufacturer of titanium dioxide (TiO2) pigment across several regions including North America, South America, Europe, and Asia Pacific. The company engages in mining titanium-bearing mineral sands and conducts various operations to produce TiO2 pigment, ultrafine specialty TiO2, zircon, and other related products.

Tronox, Stocks, Investment