Tronox (NYSE:TROX) Given New $5.00 Price Target at Mizuho

Tronox (NYSE:TROX - Free Report) had its target price decreased by Mizuho from $6.00 to $5.00 in a report released on Tuesday morning,Benzinga reports. Mizuho currently has a neutral rating on the stock.

Several other equities research analysts have also commented on TROX. Wall Street Zen lowered shares of Tronox from a "hold" rating to a "sell" rating in a research note on Monday, May 5th. BMO Capital Markets cut shares of Tronox from a "market perform" rating to an "underperform" rating and reduced their target price for the company from $7.00 to $3.00 in a report on Monday, June 30th. Truist Financial cut their price target on shares of Tronox from $14.00 to $10.00 and set a "buy" rating on the stock in a report on Monday, April 14th. JPMorgan Chase & Co. upgraded shares of Tronox from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $5.00 to $7.00 in a report on Friday, May 30th. Finally, The Goldman Sachs Group dropped their target price on shares of Tronox from $11.50 to $7.50 and set a "buy" rating on the stock in a research report on Tuesday, May 6th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $7.06.

Tronox Price Performance

Shares of Tronox stock traded down $0.05 on Tuesday, hitting $5.51. 1,499,598 shares of the company traded hands, compared to its average volume of 1,839,235. The company has a market cap of $873.11 million, a P/E ratio of -5.80 and a beta of 1.37. Tronox has a 12-month low of $4.35 and a 12-month high of $16.57. The company has a current ratio of 2.28, a quick ratio of 0.61 and a debt-to-equity ratio of 1.61. The firm's 50-day simple moving average is $5.46 and its 200 day simple moving average is $6.88.

Tronox (NYSE:TROX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.17). Tronox had a negative net margin of 4.94% and a negative return on equity of 1.57%. The company had revenue of $738.00 million for the quarter, compared to analysts' expectations of $745.96 million. During the same quarter in the prior year, the firm earned ($0.05) EPS. Tronox's quarterly revenue was down 4.7% compared to the same quarter last year. Analysts expect that Tronox will post 0.49 earnings per share for the current fiscal year.

Tronox Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Shareholders of record on Monday, May 19th were issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 9.07%. The ex-dividend date of this dividend was Monday, May 19th. Tronox's payout ratio is -52.63%.

Insider Transactions at Tronox

In other Tronox news, SVP Jeffrey N. Neuman bought 10,266 shares of Tronox stock in a transaction dated Wednesday, May 7th. The stock was acquired at an average cost of $4.89 per share, for a total transaction of $50,200.74. Following the completion of the transaction, the senior vice president directly owned 10,266 shares of the company's stock, valued at approximately $50,200.74. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tronox

Several institutional investors and hedge funds have recently bought and sold shares of TROX. Stifel Financial Corp raised its stake in shares of Tronox by 1.9% in the 4th quarter. Stifel Financial Corp now owns 101,264 shares of the company's stock valued at $1,020,000 after acquiring an additional 1,891 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Tronox by 3.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 67,532 shares of the company's stock valued at $680,000 after acquiring an additional 2,201 shares during the period. Investors Research Corp grew its holdings in shares of Tronox by 16.4% in the first quarter. Investors Research Corp now owns 16,300 shares of the company's stock valued at $115,000 after purchasing an additional 2,300 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Tronox by 6.2% in the first quarter. SG Americas Securities LLC now owns 42,677 shares of the company's stock valued at $300,000 after purchasing an additional 2,482 shares in the last quarter. Finally, Public Employees Retirement System of Ohio grew its holdings in Tronox by 48.9% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 9,844 shares of the company's stock worth $50,000 after acquiring an additional 3,231 shares in the last quarter. 73.36% of the stock is currently owned by institutional investors and hedge funds.

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.