Tronox (NYSE:TROX) Downgraded by JPMorgan Chase & Co. to “Underweight”

Tronox (NYSE:TROX) was downgraded by equities research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a report issued on Thursday, MarketBeat.com reports. They presently have a $5.00 price target on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential downside of 19.22% from the stock’s current price.

Other equities analysts have also issued reports about the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Tronox in a research report on Friday, August 7th. Truist Financial upgraded shares of Tronox from a “sell” rating to a “hold” rating and set a $7.00 price target for the company in a research report on Thursday, June 11th. The Goldman Sachs Group decreased their price target on shares of Tronox from $9.00 to $6.50 and set a “sell” rating for the company in a research note on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft set a $10.00 price objective on shares of Tronox in a research note on Wednesday, May 20th. Finally, Wall Street Zen cut shares of Tronox from a “hold” rating to a “sell” rating in a report on Saturday, June 6th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $6.93.

Tronox Stock Down 3.1%

TROX opened at $6.19 on Thursday. Tronox has a one year low of $2.86 and a one year high of $10.59. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.81 and a current ratio of 2.55. The stock has a market capitalization of $987.43 million, a P/E ratio of -1.79 and a beta of 0.82. The business’s 50-day simple moving average is $6.57 and its 200-day simple moving average is $7.57.

Tronox (NYSE:TROX) last announced its earnings results on Wednesday, August 5th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.13). The firm had revenue of $868.00 million during the quarter, compared to analyst estimates of $832.59 million. Tronox had a negative net margin of 17.96% and a negative return on equity of 24.34%. The firm’s revenue for the quarter was up 18.7% compared to the same quarter last year. During the same period last year, the company earned ($0.28) earnings per share. Analysts anticipate that Tronox will post -1.27 EPS for the current year.

Hedge Funds Weigh In On Tronox

Several institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its position in Tronox by 27.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,637,371 shares of the company’s stock worth $23,508,000 after buying an additional 1,205,249 shares during the last quarter. Primecap Management Co. CA boosted its holdings in shares of Tronox by 16.5% in the fourth quarter. Primecap Management Co. CA now owns 5,478,402 shares of the company’s stock valued at $22,845,000 after acquiring an additional 773,900 shares in the last quarter. Van Lanschot Kempen Investment Management N.V. increased its stake in shares of Tronox by 123.0% during the fourth quarter. Van Lanschot Kempen Investment Management N.V. now owns 4,347,134 shares of the company’s stock worth $18,128,000 after acquiring an additional 2,398,038 shares during the period. Lightrock Netherlands B.V. increased its stake in shares of Tronox by 66.8% during the fourth quarter. Lightrock Netherlands B.V. now owns 3,051,286 shares of the company’s stock worth $12,724,000 after acquiring an additional 1,222,115 shares during the period. Finally, State Street Corp raised its holdings in Tronox by 4.8% during the fourth quarter. State Street Corp now owns 3,039,337 shares of the company’s stock worth $12,819,000 after purchasing an additional 139,960 shares in the last quarter. 73.36% of the stock is owned by institutional investors and hedge funds.

About Tronox

Tronox Holdings plc is a vertically integrated global producer of titanium dioxide (TiO₂) pigment and specialty materials. The company’s operations encompass the full supply chain for TiO₂, from mining and processing titanium-bearing ores—such as ilmenite and rutile—to the production of high-purity pigment for use in paints, coatings, plastics, paper and other industrial applications. In addition to TiO₂, Tronox’s product portfolio includes zircon, rare earth byproducts and other specialty minerals that serve a range of industrial markets.

Tronox operates a network of mines, processing facilities and pigment plants located across North America, Europe, the Middle East, Australia and South Africa.