Tronox (NYSE:TROX) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Tuesday, Zacks.com reports. The firm presently has a $13.00 target price on the stock. Zacks Investment Research‘s price objective points to a potential upside of 8.33% from the company’s current price.
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. “
TROX has been the subject of several other research reports. ValuEngine raised Tronox from a “strong sell” rating to a “sell” rating in a research report on Tuesday, January 7th. TheStreet cut Tronox from a “c-” rating to a “d+” rating in a research report on Friday, October 11th. Finally, Alembic Global Advisors restated a “buy” rating and set a $19.00 price target on shares of Tronox in a research note on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $16.67.
NYSE TROX opened at $12.00 on Tuesday. Tronox has a twelve month low of $6.71 and a twelve month high of $15.50. The company has a debt-to-equity ratio of 3.80, a quick ratio of 1.62 and a current ratio of 3.26. The stock has a market capitalization of $1.73 billion, a PE ratio of 21.43 and a beta of 3.49. The stock has a 50-day simple moving average of $11.33 and a 200 day simple moving average of $9.99.
Tronox (NYSE:TROX) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.06. Tronox had a positive return on equity of 6.56% and a negative net margin of 4.79%. The business had revenue of $768.00 million during the quarter, compared to analysts’ expectations of $797.64 million. During the same quarter in the previous year, the firm earned $0.17 EPS. The firm’s revenue was up 68.4% compared to the same quarter last year. As a group, equities research analysts forecast that Tronox will post 0.45 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Nuveen Asset Management LLC bought a new position in Tronox during the second quarter valued at about $102,922,000. BlackRock Inc. grew its stake in shares of Tronox by 0.6% in the 2nd quarter. BlackRock Inc. now owns 6,304,200 shares of the company’s stock valued at $80,568,000 after purchasing an additional 40,275 shares during the period. Luminus Management LLC grew its stake in shares of Tronox by 56.1% in the 2nd quarter. Luminus Management LLC now owns 4,996,065 shares of the company’s stock valued at $63,850,000 after purchasing an additional 1,794,959 shares during the period. Maple Rock Capital Partners Inc. grew its stake in shares of Tronox by 6.5% in the 3rd quarter. Maple Rock Capital Partners Inc. now owns 4,335,866 shares of the company’s stock valued at $35,988,000 after purchasing an additional 264,094 shares during the period. Finally, Private Capital Management LLC grew its stake in shares of Tronox by 10.8% in the 3rd quarter. Private Capital Management LLC now owns 3,109,866 shares of the company’s stock valued at $25,812,000 after purchasing an additional 303,548 shares during the period. Hedge funds and other institutional investors own 58.19% of the company’s stock.
Tronox Holdings plc engages in the mining, production, and marketing of inorganic minerals and chemicals in North America, South and Central America, Europe, the Middle East, Africa, and the Asia Pacific. It mines and processes titanium ore, zircon, and other minerals; and manufactures titanium dioxide pigments that add brightness and durability to paints, plastics, paper, and other everyday products.
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