Tronox (NYSE:TROX) Now Covered by Analysts at Truist Financial

Investment analysts at Truist Financial assumed coverage on shares of Tronox (NYSE:TROX) in a research report issued on Tuesday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $17.00 price target on the stock. Truist Financial’s price objective points to a potential upside of 67.97% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. Barclays lowered their price target on Tronox from $18.00 to $16.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. BMO Capital Markets reduced their price target on shares of Tronox from $21.00 to $17.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 29th. UBS Group raised Tronox from a “neutral” rating to a “buy” rating and raised their price objective for the company from $17.00 to $19.00 in a research report on Thursday, October 10th. The Goldman Sachs Group lowered their target price on shares of Tronox from $15.00 to $13.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Finally, Morgan Stanley reduced their price objective on shares of Tronox from $16.00 to $12.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $16.57.

Tronox Price Performance

TROX stock opened at $10.12 on Tuesday. The firm has a 50 day moving average of $10.64 and a 200-day moving average of $12.56. The company has a current ratio of 2.72, a quick ratio of 0.90 and a debt-to-equity ratio of 1.42. Tronox has a 12 month low of $8.73 and a 12 month high of $20.70. The firm has a market capitalization of $1.60 billion, a P/E ratio of -21.08 and a beta of 1.62.

Institutional Trading of Tronox

Institutional investors have recently made changes to their positions in the business. FMR LLC raised its stake in Tronox by 4.7% during 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 in the last quarter. Thrivent Financial for Lutherans lifted its stake in Tronox by 0.6% in the third quarter. Thrivent Financial for Lutherans now owns 4,321,485 shares of the company’s stock worth $63,223,000 after acquiring an additional 23,686 shares during the period. Geode Capital Management LLC raised its stake in Tronox by 0.8% in the third quarter. Geode Capital Management LLC now owns 2,713,606 shares of the company’s stock worth $39,708,000 after buying an additional 22,165 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Tronox by 5.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,212,221 shares of the company’s stock valued at $32,365,000 after acquiring an additional 112,010 shares during the period. Finally, Victory Capital Management Inc. raised its position in shares of Tronox by 54.6% in the 3rd quarter. Victory Capital Management Inc. now owns 1,537,723 shares of the company’s stock worth $22,497,000 after acquiring an additional 543,091 shares in the last quarter. Hedge funds and other institutional investors own 73.36% of the company’s stock.

About Tronox

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.