The Chemours Company (NYSE:CC) Receives Average Rating of “Hold” from Brokerages

The Chemours Company (NYSE:CC) has been assigned a consensus recommendation of “Hold” from the nine brokerages that are covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $24.11.

A number of equities analysts have recently issued reports on CC shares. Morgan Stanley cut their price objective on Chemours from $25.00 to $22.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Royal Bank of Canada reiterated an “outperform” rating and issued a $25.00 price objective on shares of Chemours in a report on Thursday, December 12th. Mizuho cut their price objective on Chemours from $22.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Truist Financial initiated coverage on Chemours in a report on Tuesday, January 28th. They issued a “buy” rating and a $27.00 price objective for the company. Finally, The Goldman Sachs Group dropped their target price on Chemours from $24.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th.

Chemours Price Performance

CC opened at $16.80 on Monday. The stock has a 50-day moving average price of $18.39 and a 200-day moving average price of $19.02. Chemours has a 12-month low of $15.10 and a 12-month high of $29.83. The company has a current ratio of 1.73, a quick ratio of 0.92 and a debt-to-equity ratio of 6.05. The stock has a market capitalization of $2.51 billion, a P/E ratio of 33.59 and a beta of 1.81.

Institutional Investors Weigh In On Chemours

Several institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new position in Chemours during the 4th quarter valued at approximately $30,702,000. Appian Way Asset Management LP bought a new position in Chemours during the 3rd quarter valued at approximately $34,151,000. Vision One Management Partners LP bought a new position in Chemours during the 3rd quarter valued at approximately $28,252,000. Bank of Montreal Can raised its position in Chemours by 1,496.4% during the 4th quarter. Bank of Montreal Can now owns 953,240 shares of the specialty chemicals company’s stock valued at $16,110,000 after purchasing an additional 893,530 shares during the last quarter. Finally, Scopia Capital Management LP bought a new position in Chemours during the 3rd quarter valued at approximately $13,623,000. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

About Chemours

The Chemours Company provides performance chemicals in North America, the Asia Pacific, Europe, the Middle East, Africa, and Latin America. It operates through three segments: Titanium Technologies, Thermal & Specialized Solutions, and Advanced Performance Materials. The Titanium Technologies segment provides TiO2 pigment under the Ti-Pure brand for delivering whiteness, brightness, opacity, durability, efficiency, and protection in various of applications, such as architectural and industrial coatings, flexible and rigid plastic packaging, polyvinylchloride, laminate papers used for furniture and building materials, coated paper, and coated paperboard used for packaging.