Tronox (NYSE:TROX) Reaches New 1-Year Low Following Weak Earnings

Shares of Tronox Holdings plc (NYSE:TROX) reached a new 52-week low on Thursday following a weaker than expected earnings announcement. The company traded as low as $8.29 and last traded at $8.88, with a volume of 501183 shares changing hands. The stock had previously closed at $9.83.

The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.03). Tronox had a negative net margin of 2.40% and a negative return on equity of 3.91%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TROX. Truist Financial started coverage on Tronox in a report on Tuesday, January 28th. They issued a “buy” rating and a $17.00 price target on the stock. UBS Group reduced their price target on shares of Tronox from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday. Barclays lowered their price objective on shares of Tronox from $18.00 to $16.00 and set an “overweight” rating on the stock in a report on Monday, October 28th. Morgan Stanley reduced their price objective on shares of Tronox from $16.00 to $12.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Finally, BMO Capital Markets lowered their target price on shares of Tronox from $21.00 to $17.00 and set an “outperform” rating on the stock in a report on Tuesday, October 29th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $16.00.

Institutional Trading of Tronox

Institutional investors have recently made changes to their positions in the company. FMR LLC boosted its holdings in Tronox by 4.7% during the third quarter. FMR LLC now owns 23,805,227 shares of the company’s stock worth $348,270,000 after purchasing an additional 1,073,674 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Tronox by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 12,650,443 shares of the company’s stock worth $127,390,000 after buying an additional 193,895 shares during the last quarter. Thrivent Financial for Lutherans increased its position in shares of Tronox by 60.6% during the 4th quarter. Thrivent Financial for Lutherans now owns 6,938,289 shares of the company’s stock valued at $69,869,000 after purchasing an additional 2,616,804 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Tronox by 0.8% in the 3rd 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 during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Tronox by 26.5% during the 4th 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. Institutional investors own 73.36% of the company’s stock.

Tronox Price Performance

The company has a current ratio of 2.72, a quick ratio of 0.90 and a debt-to-equity ratio of 1.42. The firm has a market cap of $1.41 billion, a PE ratio of -18.49 and a beta of 1.60. The business has a fifty day moving average of $10.17 and a 200-day moving average of $12.08.

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.