Truist Financial Begins Coverage on Tronox (NYSE:TROX)

Truist Financial started coverage on shares of Tronox (NYSE:TROX) in a research report issued to clients and investors on Tuesday, MarketBeat.com reports. The firm set a “buy” rating and a $17.00 price target on the stock. Truist Financial’s price target indicates a potential upside of 65.29% from the stock’s current price.

Other analysts have also recently issued reports about the company. The Goldman Sachs Group decreased their price objective on Tronox from $15.00 to $13.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. BMO Capital Markets decreased their price target on Tronox from $21.00 to $17.00 and set an “outperform” rating for the company in a report on Tuesday, October 29th. UBS Group raised shares of Tronox from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $17.00 to $19.00 in a research note on Thursday, October 10th. Barclays reduced their target price on shares of Tronox from $18.00 to $16.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. Finally, Morgan Stanley dropped 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. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Tronox currently has a consensus rating of “Moderate Buy” and an average target price of $16.57.

Tronox Price Performance

Shares of NYSE:TROX opened at $10.29 on Tuesday. Tronox has a one year low of $8.73 and a one year high of $20.70. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of -21.43 and a beta of 1.62. The company has a 50-day simple moving average of $10.59 and a 200-day simple moving average of $12.50. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.90 and a current ratio of 2.72.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio acquired a new stake in Tronox in the 3rd quarter valued at about $66,000. KBC Group NV lifted its holdings in shares of Tronox by 59.4% in the fourth 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. acquired a new stake in shares of Tronox in the second quarter valued at approximately $76,000. nVerses Capital LLC increased its stake in shares of Tronox by 35.1% during the 3rd quarter. nVerses Capital LLC now owns 10,400 shares of the company’s stock worth $152,000 after purchasing an additional 2,700 shares in the last quarter. Finally, Entropy Technologies LP purchased a new position in shares of Tronox during the 3rd quarter worth approximately $190,000. 73.36% of the stock is owned by hedge funds and other institutional investors.

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.