Tronox (NYSE:TROX) Given New $11.50 Price Target at The Goldman Sachs Group

Tronox (NYSE:TROX) had its price target cut by The Goldman Sachs Group from $13.00 to $11.50 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 46.03% from the stock’s current price.

Other equities analysts also recently issued reports about the company. BMO Capital Markets reduced 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. 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 research note on Monday, January 13th. Truist Financial decreased their target price on shares of Tronox from $17.00 to $14.00 and set a “buy” rating for the company in a report on Tuesday, February 18th. Finally, UBS Group cut their price target on shares of Tronox from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Tronox has an average rating of “Moderate Buy” and an average target price of $15.36.

Tronox Trading Down 1.4 %

Shares of NYSE TROX opened at $7.88 on Wednesday. The stock has a market cap of $1.24 billion, a P/E ratio of -25.40 and a beta of 1.60. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.47 and a quick ratio of 0.90. Tronox has a 1 year low of $7.72 and a 1 year high of $20.70. The firm has a 50-day moving average of $9.63 and a 200 day moving average of $11.67.

Tronox (NYSE:TROX) last issued 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 return on equity of 0.63% and a negative net margin of 1.56%. As a group, sell-side analysts expect that Tronox will post 0.49 EPS for the current fiscal year.

Institutional Investors Weigh In On Tronox

A number of large investors have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. boosted its stake in shares of Tronox by 35.1% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 64,417 shares of the company’s stock worth $942,000 after buying an additional 16,752 shares during the last quarter. Van ECK Associates Corp boosted its position in Tronox by 15.1% in the third quarter. Van ECK Associates Corp now owns 1,065,710 shares of the company’s stock worth $14,302,000 after purchasing an additional 139,795 shares during the last quarter. Entropy Technologies LP bought a new stake in shares of Tronox during the 3rd quarter valued at about $190,000. Aigen Investment Management LP bought a new stake in shares of Tronox during the 3rd quarter valued at about $363,000. Finally, Victory Capital Management Inc. increased 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 valued at $22,497,000 after purchasing an additional 543,091 shares during the last quarter. Institutional investors own 73.36% of the company’s stock.

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.