Tronox (NYSE:TROX) Reaches New 12-Month Low on Disappointing Earnings

Tronox Holdings plc (NYSE:TROX) shares reached a new 52-week low on Thursday after the company announced weaker than expected quarterly earnings. The company traded as low as $8.29 and last traded at $8.88, with a volume of 501183 shares changing hands. The stock had previously closed at $9.83.

The company reported $0.03 earnings per share 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%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Morgan Stanley decreased their price target on shares of Tronox from $16.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. BMO Capital Markets decreased 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. Truist Financial assumed coverage on shares of Tronox in a research note on Tuesday, January 28th. They issued a “buy” rating and a $17.00 price target on the stock. UBS Group decreased their price target on shares of Tronox from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, The Goldman Sachs Group decreased their price target on shares of Tronox from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Tronox has a consensus rating of “Moderate Buy” and an average price target of $16.00.

Institutional Investors Weigh In On Tronox

A number of large investors have recently bought and sold shares of TROX. Sterling Capital Management LLC boosted its stake in shares of Tronox by 832.6% in the 4th quarter. Sterling Capital Management LLC now owns 3,805 shares of the company’s stock valued at $38,000 after purchasing an additional 3,397 shares in the last quarter. 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 boosted its stake in shares of Tronox by 59.4% in the 4th quarter. KBC Group NV now owns 6,949 shares of the company’s stock valued at $70,000 after purchasing an additional 2,590 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of Tronox by 34.6% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,548 shares of the company’s stock valued at $96,000 after purchasing an additional 1,683 shares in the last quarter. Finally, Mariner LLC acquired a new stake in shares of Tronox in the 4th quarter valued at approximately $105,000. 73.36% of the stock is currently owned by institutional investors and hedge funds.

Tronox Trading Down 10.5 %

The business’s 50 day moving average price is $10.12 and its two-hundred day moving average price is $12.05. The company has a current ratio of 2.72, a quick ratio of 0.90 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of -18.32 and a beta of 1.60.

Tronox Company 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.