Mizuho Issues Pessimistic Forecast for Tronox (NYSE:TROX) Stock Price

Tronox (NYSE:TROX) had its price target reduced by analysts at Mizuho from $11.00 to $9.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Mizuho’s target price would indicate a potential upside of 27.03% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Morgan Stanley lowered their price objective 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. UBS Group lowered their target price on Tronox from $16.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, February 13th. The Goldman Sachs Group lowered their target price on Tronox from $13.00 to $11.50 and set a “buy” rating for the company in a report on Wednesday, February 26th. Finally, Truist Financial lowered their target price on Tronox from $17.00 to $14.00 and set a “buy” rating for the company in a report on Tuesday, February 18th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $13.50.

Tronox Price Performance

TROX opened at $7.09 on Thursday. The company has a quick ratio of 0.90, a current ratio of 2.47 and a debt-to-equity ratio of 1.54. Tronox has a 12 month low of $6.64 and a 12 month high of $20.70. The company has a fifty day simple moving average of $8.93 and a 200 day simple moving average of $11.17. The stock has a market cap of $1.12 billion, a P/E ratio of -22.85 and a beta of 1.64.

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

Hedge Funds Weigh In On Tronox

A number of large investors have recently modified their holdings of TROX. Entropy Technologies LP acquired a new position in shares of Tronox during the 3rd quarter worth about $190,000. Aigen Investment Management LP acquired a new position in shares of Tronox during the 3rd quarter worth about $363,000. Victory Capital Management Inc. lifted its stake in Tronox by 54.6% in the 3rd quarter. Victory Capital Management Inc. now owns 1,537,723 shares of the company’s stock valued at $22,497,000 after purchasing an additional 543,091 shares during the last quarter. Royce & Associates LP lifted its stake in Tronox by 20.8% in the 3rd quarter. Royce & Associates LP now owns 493,543 shares of the company’s stock valued at $7,221,000 after purchasing an additional 84,830 shares during the last quarter. Finally, Empowered Funds LLC lifted its stake in Tronox by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 692,787 shares of the company’s stock valued at $10,135,000 after purchasing an additional 35,342 shares during the last quarter. 73.36% of the stock is currently owned by institutional investors and hedge funds.

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.