The Goldman Sachs Group Issues Pessimistic Forecast for Tronox (NYSE:TROX) Stock Price

Tronox (NYSE:TROX) had its price target reduced by equities researchers at The Goldman Sachs Group from $13.00 to $11.50 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s price target points to a potential upside of 47.91% from the company’s previous close.

A number of other research firms have also issued reports on TROX. BMO Capital Markets lowered their target price on Tronox from $21.00 to $17.00 and set an “outperform” rating for the company in a research note on Tuesday, October 29th. Truist Financial lowered their price target on shares of Tronox from $17.00 to $14.00 and set a “buy” rating for the company in a report on Tuesday, February 18th. UBS Group dropped their price objective on Tronox from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Finally, Morgan Stanley dropped their target price on shares of Tronox from $16.00 to $12.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $15.36.

Tronox Stock Down 2.2 %

TROX opened at $7.78 on Wednesday. The company has a market cap of $1.23 billion, a PE ratio of -25.08 and a beta of 1.60. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.90 and a current ratio of 2.47. Tronox has a 1 year low of $7.72 and a 1 year high of $20.70. The firm has a 50 day moving average price of $9.53 and a 200 day moving average price of $11.62.

Tronox (NYSE:TROX) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.03). Tronox had a negative return on equity of 0.63% and a negative net margin of 1.56%. Sell-side analysts expect that Tronox will post 0.49 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Thrivent Financial for Lutherans boosted its holdings in shares of Tronox by 60.6% during the fourth quarter. Thrivent Financial for Lutherans now owns 6,938,289 shares of the company’s stock valued at $69,869,000 after acquiring an additional 2,616,804 shares during the period. FMR LLC lifted its position in Tronox by 4.7% in the 3rd quarter. FMR LLC now owns 23,805,227 shares of the company’s stock valued at $348,270,000 after purchasing an additional 1,073,674 shares during the last quarter. Lightrock Netherlands B.V. acquired a new position in Tronox during the 4th quarter valued at about $9,183,000. Capital International Investors grew its position in Tronox by 14.8% in the 4th quarter. Capital International Investors now owns 6,060,943 shares of the company’s stock worth $61,034,000 after purchasing an additional 781,223 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Tronox by 26.5% in the fourth quarter. Bank of New York Mellon Corp now owns 2,630,144 shares of the company’s stock valued at $26,486,000 after purchasing an additional 551,645 shares during the period. 73.36% of the stock is currently owned by 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.