Tronox (NYSE:TROX) Stock Price Down 6.9% Following Analyst Downgrade

Tronox Holdings plc (NYSE:TROX)’s share price fell 6.9% during trading on Friday after UBS Group lowered their price target on the stock from $16.00 to $15.00. UBS Group currently has a buy rating on the stock. Tronox traded as low as $8.22 and last traded at $8.15. 894,693 shares changed hands during mid-day trading, a decline of 32% from the average session volume of 1,307,266 shares. The stock had previously closed at $8.75.

Several other research firms have also recently issued reports on TROX. BMO Capital Markets reduced their target price on Tronox from $21.00 to $17.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 29th. Truist Financial began coverage on Tronox in a research note on Tuesday, January 28th. They issued a “buy” rating and a $17.00 price target on the stock. Morgan Stanley reduced their price target on Tronox from $16.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. The Goldman Sachs Group dropped their target price on Tronox from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Finally, Barclays lowered their target price on Tronox from $18.00 to $16.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. Three investment 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 a consensus rating of “Moderate Buy” and an average target price of $16.00.

Institutional Trading of Tronox

Institutional investors have recently made changes to their positions in the business. Quantbot Technologies LP grew its position in shares of Tronox by 98.6% during the third quarter. Quantbot Technologies LP now owns 174,922 shares of the company’s stock worth $2,559,000 after purchasing an additional 86,852 shares in the last quarter. Royce & Associates LP grew its position in shares of Tronox by 20.8% during the third quarter. Royce & Associates LP now owns 493,543 shares of the company’s stock worth $7,221,000 after purchasing an additional 84,830 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Tronox by 0.8% during the third quarter. Geode Capital Management LLC now owns 2,713,606 shares of the company’s stock worth $39,708,000 after purchasing an additional 22,165 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Tronox by 54.6% during the third quarter. Victory Capital Management Inc. now owns 1,537,723 shares of the company’s stock valued at $22,497,000 after buying an additional 543,091 shares during the last quarter. Finally, Atom Investors LP boosted its stake in Tronox by 72.9% during the third quarter. Atom Investors LP now owns 125,790 shares of the company’s stock valued at $1,840,000 after buying an additional 53,034 shares during the last quarter. Hedge funds and other institutional investors own 73.36% of the company’s stock.

Tronox Stock Performance

The business has a 50 day moving average of $10.12 and a 200 day moving average of $12.05. The company has a market capitalization of $1.28 billion, a P/E ratio of -16.93 and a beta of 1.60. The company has a quick ratio of 0.90, a current ratio of 2.72 and a debt-to-equity ratio of 1.42.

Tronox (NYSE:TROX) last announced its quarterly earnings results 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 2.40% and a negative return on equity of 3.91%. On average, sell-side analysts predict that Tronox Holdings plc will post -0.05 earnings per share for the current year.

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.