Tronox Holdings plc (TROX), a global leader in the production and marketing of titanium dioxide pigments, saw its share price hit a 52-week low of $9.47. According to InvestingPro data, the company maintains a significant 5.27% dividend yield and has maintained dividend payments for 13 consecutive years, while maintaining healthy liquidity with a current ratio of 2.72. This decline reflects a significant pullback from an outperforming period, with the company’s stock experiencing a 1-year change of -27.15%. Investors are closely monitoring Tronox’s performance as the company navigates market headwinds, including fluctuating demand in key sectors and potential global economic pressures. The 52-week low serves as a critical point for Tronox, as market participants consider the company’s strategic moves to recover from this challenging period. Analyst targets suggest significant upside potential, with price targets ranging from $12 to $19. For comprehensive analysis and additional insights, access the full Pro Research Report available at InvestingPro.
In other recent news, TRONOX (NYSE: ), a global chemicals company, reported mixed results for the third quarter. The company’s revenue rose to $804 million, a 21% year-over-year increase, despite falling demand, particularly in Europe and Asia Pacific. However, adjusted EBITDA came in slightly below expectations, coming in at $143 million, and a net loss of $25 million was reported, along with adjusted diluted loss per share of $0.13.
Goldman Sachs maintained a buy rating on TRONOX, keeping its price target on the stock stable. This followed TRONOX’s adjusted EBITDA for the third quarter, which fell short of the Bloomberg consensus and the company’s own guidance. This weaker performance was attributed to lower-than-expected titanium dioxide volumes and a decline in zircon sales.
Looking ahead, TRONOX management set the median EBITDA for the fourth quarter at $124 million, below the Bloomberg consensus. The company anticipates a 10% to 15% decline in titanium dioxide volumes in the fourth quarter, while demand for zirconia is expected to remain stable. These are the latest developments in TRONOX.
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