The Goldman Sachs Group Has Lowered Expectations for Tronox (NYSE:TROX) Stock Price

Tronox (NYSE:TROX) had its price objective lowered by analysts at The Goldman Sachs Group from $15.00 to $13.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s price target would indicate a potential upside of 35.14% from the company’s current price.

Other analysts have also issued reports about the company. Barclays lowered their price target on Tronox from $18.00 to $16.00 and set an “overweight” rating on the stock in a research note on Monday, October 28th. UBS Group upgraded shares of Tronox from a “neutral” rating to a “buy” rating and increased their target price for the company from $17.00 to $19.00 in a research report on Thursday, October 10th. Finally, BMO Capital Markets lowered their price target on shares of Tronox from $21.00 to $17.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 29th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $17.40.

Tronox Stock Performance

NYSE:TROX opened at $9.62 on Tuesday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.90 and a current ratio of 2.72. The stock has a market capitalization of $1.52 billion, a PE ratio of -20.04 and a beta of 1.62. Tronox has a fifty-two week low of $9.43 and a fifty-two week high of $20.70. The company has a fifty day moving average of $11.24 and a two-hundred day moving average of $13.26.

Tronox (NYSE:TROX) last released its quarterly earnings results on Thursday, October 24th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.30). Tronox had a negative return on equity of 3.91% and a negative net margin of 2.40%. The company had revenue of $804.00 million for the quarter, compared to analyst estimates of $790.63 million. During the same quarter last year, the company earned ($0.08) EPS. The firm’s revenue for the quarter was up 21.5% on a year-over-year basis. As a group, research analysts forecast that Tronox will post -0.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tronox

Institutional investors have recently bought and sold shares of the company. Driehaus Capital Management LLC grew its holdings in shares of Tronox by 109.3% during the 2nd quarter. Driehaus Capital Management LLC now owns 2,646,916 shares of the company’s stock worth $41,530,000 after purchasing an additional 1,381,975 shares during the period. FMR LLC lifted its stake in Tronox by 4.7% in the third quarter. FMR LLC now owns 23,805,227 shares of the company’s stock worth $348,270,000 after acquiring an additional 1,073,674 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Tronox by 54.6% during the 3rd quarter. Victory Capital Management Inc. now owns 1,537,723 shares of the company’s stock worth $22,497,000 after purchasing an additional 543,091 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Tronox during the 2nd quarter worth about $4,489,000. Finally, Algert Global LLC boosted its holdings in Tronox by 77.0% in the third quarter. Algert Global LLC now owns 546,967 shares of the company’s stock valued at $8,002,000 after purchasing an additional 237,916 shares in the last quarter. 73.36% of the stock is owned by hedge funds and other 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.