Tronox (NYSE:TROX) Sets New 12-Month Low Following Weak Earnings

Tronox Holdings plc (NYSE:TROX - Get Free Report) hit a new 52-week low during trading on Thursday following a dissappointing earnings announcement. The stock traded as low as $8.29 and last traded at $8.88, with a volume of 501183 shares. The stock had previously closed at $9.83.

The company reported $0.03 EPS for the quarter, missing analysts' consensus estimates of $0.06 by ($0.03). Tronox had a negative net margin of 2.40% and a negative return on equity of 3.91%.

Analyst Ratings Changes

Several analysts have recently commented on TROX shares. Morgan Stanley lowered their price objective on Tronox from $16.00 to $12.00 and set an "equal weight" rating for the company in a research note on Monday, January 13th. BMO Capital Markets cut their price objective on shares of Tronox from $21.00 to $17.00 and set an "outperform" rating on the stock in a report on Tuesday, October 29th. Truist Financial began coverage on shares of Tronox in a report on Tuesday, January 28th. They issued a "buy" rating and a $17.00 target price for the company. The Goldman Sachs Group cut their price target on shares of Tronox from $15.00 to $13.00 and set a "buy" rating on the stock in a report on Tuesday, January 7th. Finally, Barclays decreased their price objective on shares of Tronox from $18.00 to $16.00 and set an "overweight" rating for the company in a research note on Monday, October 28th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $16.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC lifted its stake in Tronox by 4.7% in the third quarter. FMR LLC now owns 23,805,227 shares of the company's stock valued at $348,270,000 after purchasing an additional 1,073,674 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Tronox by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 12,650,443 shares of the company's stock valued at $127,390,000 after buying an additional 193,895 shares during the period. Thrivent Financial for Lutherans lifted its position in shares of Tronox by 60.6% during the 4th quarter. Thrivent Financial for Lutherans now owns 6,938,289 shares of the company's stock valued at $69,869,000 after buying an additional 2,616,804 shares during the last quarter. Capital International Investors grew its stake in shares of Tronox by 14.8% during the 4th quarter. Capital International Investors now owns 6,060,943 shares of the company's stock worth $61,034,000 after acquiring an additional 781,223 shares during the period. Finally, Van Lanschot Kempen Investment Management N.V. increased its stake in shares of Tronox by 5.2% in the fourth quarter. Van Lanschot Kempen Investment Management N.V. now owns 2,799,111 shares of the company's stock worth $28,187,000 after purchasing an additional 139,401 shares in the last quarter. 73.36% of the stock is owned by institutional investors.

Tronox Trading Down 10.8 %

The company has a market cap of $1.23 billion, a P/E ratio of -16.26 and a beta of 1.60. The company has a quick ratio of 0.90, a current ratio of 2.72 and a debt-to-equity ratio of 1.42. The firm's 50-day moving average price is $10.04 and its 200-day moving average price is $11.94.

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.