Mizuho Issues Pessimistic Forecast for Tronox (NYSE:TROX) Stock Price

Tronox (NYSE:TROX - Get Free Report) had its price objective lowered by equities research analysts at Mizuho from $11.00 to $9.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the stock. Mizuho's target price indicates a potential upside of 29.93% from the company's previous close.

A number of other equities research analysts have also recently issued reports on TROX. The Goldman Sachs Group reduced their target price on shares of Tronox from $13.00 to $11.50 and set a "buy" rating for the company in a research report on Wednesday, February 26th. Morgan Stanley cut their price objective on shares of Tronox from $16.00 to $12.00 and set an "equal weight" rating for the company in a report on Monday, January 13th. Truist Financial dropped their price target on shares of Tronox from $17.00 to $14.00 and set a "buy" rating for the company in a research report on Tuesday, February 18th. Finally, UBS Group reduced their price target on Tronox from $16.00 to $15.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $13.50.

Tronox Stock Performance

NYSE:TROX traded down $0.01 on Thursday, hitting $6.93. The company's stock had a trading volume of 66,074 shares, compared to its average volume of 1,737,315. The company has a current ratio of 2.47, a quick ratio of 0.90 and a debt-to-equity ratio of 1.54. The stock has a fifty day moving average of $8.99 and a two-hundred day moving average of $11.20. Tronox has a one year low of $6.64 and a one year high of $20.70. The firm has a market capitalization of $1.09 billion, a P/E ratio of -22.32 and a beta of 1.64.

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Tronox (NYSE:TROX - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.03). Tronox had a negative return on equity of 0.63% and a negative net margin of 1.56%. Research analysts predict that Tronox will post 0.49 earnings per share for the current year.

Hedge Funds Weigh In On Tronox

Institutional investors have recently modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Tronox by 16.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 325,111 shares of the company's stock valued at $3,274,000 after acquiring an additional 46,230 shares during the last quarter. Voloridge Investment Management LLC grew its holdings in shares of Tronox by 34.6% during the 4th quarter. Voloridge Investment Management LLC now owns 510,886 shares of the company's stock valued at $5,145,000 after purchasing an additional 131,196 shares during the last quarter. Squarepoint Ops LLC increased its position in Tronox by 54.3% during the 4th quarter. Squarepoint Ops LLC now owns 247,065 shares of the company's stock worth $2,488,000 after purchasing an additional 86,900 shares in the last quarter. Two Sigma Advisers LP increased its position in Tronox by 802.0% during the 4th quarter. Two Sigma Advisers LP now owns 176,800 shares of the company's stock worth $1,780,000 after purchasing an additional 157,200 shares in the last quarter. Finally, Two Sigma Investments LP lifted its stake in Tronox by 253.5% in the 4th quarter. Two Sigma Investments LP now owns 512,739 shares of the company's stock valued at $5,163,000 after purchasing an additional 367,675 shares during 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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