Tronox (NYSE:TROX) Hits New 1-Year Low – Here’s Why

Tronox Holdings plc (NYSE:TROX)’s share price hit a new 52-week low during trading on Monday . The company traded as low as $9.88 and last traded at $10.02, with a volume of 65647 shares changing hands. The stock had previously closed at $10.13.

Analyst Ratings Changes

A number of analysts have issued reports on TROX shares. BMO Capital Markets cut their price target on shares of Tronox from $21.00 to $17.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 29th. The Goldman Sachs Group cut their target price on shares of Tronox from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, September 19th. UBS Group upgraded shares of Tronox from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $17.00 to $19.00 in a research note on Thursday, October 10th. Finally, Barclays reduced their price objective on Tronox from $18.00 to $16.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $18.00.

Tronox Stock Up 1.9 %

The firm’s fifty day simple moving average is $11.49 and its 200 day simple moving average is $13.51. The company has a market cap of $1.59 billion, a price-to-earnings ratio of -20.98 and a beta of 1.59. 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 earnings results on Thursday, October 24th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of $0.17 by ($0.30). The business had revenue of $804.00 million during the quarter, compared to analysts’ expectations of $790.63 million. Tronox had a negative net margin of 2.40% and a negative return on equity of 3.91%. The business’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same period last year, the company earned ($0.08) EPS. Sell-side analysts predict that Tronox Holdings plc will post -0.04 earnings per share for the current year.

Tronox Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, November 11th were paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 4.97%. The ex-dividend date was Friday, November 8th. Tronox’s payout ratio is -104.17%.

Hedge Funds Weigh In On Tronox

Hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its holdings in shares of Tronox by 5.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 841,230 shares of the company’s stock valued at $12,307,000 after buying an additional 46,721 shares in the last quarter. Geode Capital Management LLC boosted its stake in Tronox by 0.8% in the third quarter. Geode Capital Management LLC now owns 2,713,606 shares of the company’s stock valued at $39,708,000 after acquiring an additional 22,165 shares in the last quarter. Barclays PLC grew its holdings in shares of Tronox by 320.1% during the third quarter. Barclays PLC now owns 182,629 shares of the company’s stock worth $2,672,000 after purchasing an additional 139,161 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Tronox during the third quarter worth about $66,000. Finally, XTX Topco Ltd increased its position in shares of Tronox by 38.0% during the third quarter. XTX Topco Ltd now owns 53,088 shares of the company’s stock worth $777,000 after purchasing an additional 14,609 shares in the last quarter. 73.36% of the stock is currently owned by hedge funds and other institutional investors.

About Tronox

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.