JPMorgan Chase & Co. Reaffirms "Neutral" Rating for Tronox (NYSE:TROX)

Key Points

• JPMorgan Chase & Co. has reaffirmed a "neutral" rating for Tronox (NYSE:TROX), indicating analysts are taking a cautious stance on the stock.
• Tronox has reported a $0.28 earnings per share loss for the recent quarter, significantly missing analysts' expectations and reflecting a negative net margin of 8.48%.
• Institutional investors hold approximately 73.36% of Tronox's shares, highlighting substantial interest from large financial entities despite mixed ratings from various brokerages.

Tronox (NYSE:TROX - Get Free Report)'s stock had its "neutral" rating restated by analysts at JPMorgan Chase & Co. in a research note issued to investors on Friday,Benzinga reports.

A number of other brokerages have also recently issued reports on TROX. Mizuho reissued an "underperform" rating and issued a $4.00 target price on shares of Tronox in a research report on Friday, September 12th. UBS Group cut Tronox from a "buy" rating to a "neutral" rating and decreased their target price for the company from $8.00 to $3.60 in a research report on Monday, August 4th. Morgan Stanley decreased their target price on Tronox from $8.00 to $4.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 6th. Truist Financial upped their target price on Tronox from $5.00 to $6.00 and gave the company a "buy" rating in a research report on Tuesday, September 16th. Finally, Alembic Global Advisors reissued an "overweight" rating and issued a $6.00 target price on shares of Tronox in a research report on Monday, September 15th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $5.07.

Tronox Stock Up 4.0%

Tronox stock opened at $4.07 on Friday. Tronox has a 1-year low of $2.95 and a 1-year high of $14.93. The company has a debt-to-equity ratio of 1.64, a current ratio of 2.10 and a quick ratio of 0.52. The stock has a market cap of $644.70 million, a PE ratio of -2.57 and a beta of 1.28. The stock's fifty day moving average is $4.22 and its two-hundred day moving average is $5.15.

Tronox (NYSE:TROX - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported ($0.28) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.24). Tronox had a negative net margin of 8.48% and a negative return on equity of 4.83%. The business had revenue of $731.00 million during the quarter, compared to analyst estimates of $802.03 million. During the same quarter in the prior year, the business earned $0.07 earnings per share. The firm's quarterly revenue was down 10.9% on a year-over-year basis. Tronox has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that Tronox will post 0.49 EPS for the current fiscal year.

Insider Activity at Tronox

In other news, Director Peter Johnston purchased 20,000 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were acquired at an average price of $3.21 per share, for a total transaction of $64,200.00. Following the acquisition, the director directly owned 191,513 shares in the company, valued at approximately $614,756.73. The trade was a 11.66% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jean Francois Turgeon purchased 31,150 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was purchased at an average price of $3.21 per share, for a total transaction of $99,991.50. Following the acquisition, the director owned 772,572 shares in the company, valued at approximately $2,479,956.12. This trade represents a 4.20% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 184,750 shares of company stock worth $579,714 in the last three months. 1.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Tronox

A number of institutional investors and hedge funds have recently modified their holdings of the company. SG Americas Securities LLC grew its stake in shares of Tronox by 6.2% during the first quarter. SG Americas Securities LLC now owns 42,677 shares of the company's stock valued at $300,000 after acquiring an additional 2,482 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Tronox by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 70,574 shares of the company's stock worth $497,000 after purchasing an additional 3,042 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in Tronox by 48.9% in the second quarter. Public Employees Retirement System of Ohio now owns 9,844 shares of the company's stock worth $50,000 after purchasing an additional 3,231 shares in the last quarter. Boston Partners grew its stake in Tronox by 3.2% in the first quarter. Boston Partners now owns 111,279 shares of the company's stock worth $783,000 after purchasing an additional 3,423 shares in the last quarter. Finally, Invesco Ltd. grew its stake in Tronox by 3.9% in the first quarter. Invesco Ltd. now owns 120,486 shares of the company's stock worth $848,000 after purchasing an additional 4,498 shares in the last quarter. Institutional investors and hedge funds 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.

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