Mizuho Has Lowered Expectations for Tronox (NYSE:TROX) Stock Price

Key Points

• Mizuho lowered Tronox’s price target from $5.50 to $4.50 and maintained an “underperform” rating, reflecting continued analyst caution.
• Tronox opened at $3.94, while the broader analyst consensus is “Reduce” with a $7.00 price target; four analysts rate it a sell, four a hold, and one a buy.
• The company reported a quarterly loss of $0.51 per share, missing estimates, despite revenue rising 18.7% year over year to $868 million. Institutional investors own 73.36% of the stock.

Tronox (NYSE:TROX - Get Free Report) had its target price reduced by equities researchers at Mizuho from $5.50 to $4.50 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has an "underperform" rating on the stock. Mizuho's price objective suggests a potential upside of 14.07% from the company's current price.

A number of other research firms have also recently issued reports on TROX. The Goldman Sachs Group cut their price objective on shares of Tronox from $9.00 to $6.50 and set a "sell" rating on the stock in a research report on Wednesday, July 22nd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Tronox in a research note on Friday, August 7th. JPMorgan Chase & Co. lowered Tronox from a "neutral" rating to an "underweight" rating and cut their price target for the stock from $7.00 to $5.00 in a report on Thursday, August 13th. Wall Street Zen cut Tronox from a "hold" rating to a "sell" rating in a research note on Saturday, June 6th. Finally, Truist Financial upgraded Tronox from a "sell" rating to a "hold" rating and set a $7.00 price objective for the company in a report on Thursday, June 11th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and four have given a Sell rating to the company's stock. Based on data from MarketBeat, Tronox currently has a consensus rating of "Reduce" and a consensus price target of $7.00.

Tronox Stock Down 1.1%

Shares of NYSE:TROX opened at $3.94 on Wednesday. The company has a fifty day moving average of $5.32 and a 200-day moving average of $7.04. The company has a market capitalization of $630.02 million, a PE ratio of -1.14 and a beta of 0.79. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.81 and a current ratio of 2.55. Tronox has a 52-week low of $2.86 and a 52-week high of $10.59.

Tronox (NYSE:TROX - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.13). Tronox had a negative return on equity of 24.34% and a negative net margin of 17.96%.The company had revenue of $868.00 million for the quarter, compared to analyst estimates of $832.59 million. During the same period in the previous year, the firm posted ($0.28) earnings per share. The firm's quarterly revenue was up 18.7% compared to the same quarter last year. On average, equities analysts predict that Tronox will post -1.37 EPS for the current fiscal year.

Hedge Funds Weigh In On Tronox

Institutional investors have recently made changes to their positions in the stock. Van Lanschot Kempen Investment Management N.V. increased its stake in Tronox by 123.0% in the 4th quarter. Van Lanschot Kempen Investment Management N.V. now owns 4,347,134 shares of the company's stock worth $18,128,000 after purchasing an additional 2,398,038 shares during the period. CenterBook Partners LP grew its holdings in shares of Tronox by 9.7% during the 4th quarter. CenterBook Partners LP now owns 1,787,731 shares of the company's stock worth $7,455,000 after acquiring an additional 157,760 shares during the period. Royal Bank of Canada raised its holdings in Tronox by 21,419.9% in the first quarter. Royal Bank of Canada now owns 1,065,665 shares of the company's stock worth $10,412,000 after purchasing an additional 1,060,713 shares in the last quarter. Squarepoint Ops LLC purchased a new position in Tronox during the 2nd quarter valued at about $4,355,000. Finally, Bank of New York Mellon Corp grew its stake in shares of Tronox by 0.6% in the 1st quarter. Bank of New York Mellon Corp now owns 500,461 shares of the company's stock worth $4,890,000 after buying an additional 3,225 shares during the last quarter. Institutional investors own 73.36% of the company's stock.

Tronox Company Profile

Tronox Holdings plc NYSE: TROX is a global producer of titanium dioxide (TiO2) pigment, a material used to provide whiteness, brightness, and opacity in paints and coatings, plastics, paper, and other products. The company also produces titanium feedstocks, zircon, and other mineral-sands products used in pigment manufacturing and a range of industrial applications.

Tronox operates an integrated business model that includes the exploration and mining of mineral sands, processing and upgrading titanium-bearing ores, manufacturing TiO2 pigment, and producing related specialty materials.

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