Tronox (NYSE:TROX) was downgraded by Zacks Investment Research from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Friday, Zacks.com reports.
According to Zacks, "Tronox Holdings plc is a vertically integrated mining and inorganic chemical business. The company mines and processes titanium ore, zircon and other minerals and manufactures titanium dioxide pigments to paints, plastics, paper and other everyday products. It operates primarily in South Africa, Australia, United States, the Netherlands and Australia. Tronox Holdings plc, formerly known as Tronox Limited, is based in London, United Kingdom. "
A number of other research analysts also recently issued reports on TROX. TheStreet raised shares of Tronox from a "d+" rating to a "c+" rating in a research report on Thursday, October 29th. Morgan Stanley boosted their price objective on shares of Tronox from $16.00 to $22.00 and gave the company an "equal weight" rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. Tronox presently has a consensus rating of "Hold" and an average target price of $13.20.
NYSE:TROX opened at $18.04 on Friday. The company has a fifty day moving average of $17.09 and a 200 day moving average of $12.36. Tronox has a 52 week low of $3.97 and a 52 week high of $21.36. The company has a quick ratio of 1.85, a current ratio of 3.38 and a debt-to-equity ratio of 2.03. The firm has a market capitalization of $2.59 billion, a P/E ratio of 2.83 and a beta of 2.65.
Tronox (NYSE:TROX) last posted its quarterly earnings results on Thursday, February 18th. The company reported $0.19 EPS for the quarter, missing the Zacks' consensus estimate of $0.20 by ($0.01). Tronox had a net margin of 34.63% and a return on equity of 7.18%. As a group, analysts anticipate that Tronox will post 0.53 EPS for the current year.
Large investors have recently added to or reduced their stakes in the company. Boston Partners grew its position in shares of Tronox by 99.3% in the 4th quarter. Boston Partners now owns 471,660 shares of the company's stock worth $6,896,000 after buying an additional 235,017 shares during the period. Sei Investments Co. grew its position in shares of Tronox by 33.0% in the 3rd quarter. Sei Investments Co. now owns 134,251 shares of the company's stock worth $1,003,000 after buying an additional 33,340 shares during the period. New York State Teachers Retirement System purchased a new stake in shares of Tronox in the 4th quarter worth about $110,000. ExodusPoint Capital Management LP purchased a new stake in shares of Tronox in the 3rd quarter worth about $2,045,000. Finally, Federated Hermes Inc. grew its position in shares of Tronox by 62.0% in the 3rd quarter. Federated Hermes Inc. now owns 217,497 shares of the company's stock worth $1,711,000 after buying an additional 83,279 shares during the period. 54.25% of the stock is currently owned by hedge funds and other institutional investors.
Tronox Holdings plc operates as a vertically integrated manufacturer of TiO2 pigment in South and Central America, Europe, the Middle East, Africa, and the Asia Pacific. The company operates titanium-bearing mineral sand mines, and beneficiation and smelting operations. Its products include TiO2, zircon, and pig iron, as well as feedstock and other products comprising rutile prime, ilmenite, chloride slag, and other mining products.
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