Stock Markets
Tronox stock hits 52-week low at $9.47 amid market challenges
Tronox Holdings plc (TROX), a global leader in the production and marketing of titanium dioxide pigment, has seen its stock price touch a 52-week low of $9.47 USD. According to InvestingPro data, the company maintains a notable 5.27% dividend yield and has sustained dividend payments for 13 consecutive years, while maintaining healthy liquidity with a current ratio of 2.72. This downturn reflects a significant retreat from better-performing times, with the company’s shares experiencing a 1-year change of -27.15%. Investors are closely monitoring Tronox’s performance as the company navigates through market headwinds, including fluctuating demand in key sectors and potential global economic pressures. The 52-week low serves as a critical juncture for Tronox, as market participants consider the company’s strategic moves to rebound from this challenging period. Analyst targets suggest significant upside potential, with price targets ranging from $12 to $19 USD. For comprehensive analysis and additional insights, access the full Pro Research Report available on InvestingPro.
In other recent news, TRONOX (NYSE:), a global chemical company, reported a mixed bag of third-quarter results. The company’s revenue increased to $804 million, marking a 21% rise from the previous year, despite a decline in demand, particularly in Europe and Asia Pacific. However, the adjusted EBITDA fell slightly short of expectations, landing at $143 million, and a net loss of $25 million was reported, along with an adjusted diluted loss per share of $0.13.
Goldman Sachs maintained its Buy rating on TRONOX, keeping the stock price target steady. This followed TRONOX’s third-quarter adjusted EBITDA, which fell short of both the Bloomberg consensus and the company’s own guidance. This underperformance was attributed to weaker-than-expected Titanium Dioxide volumes and a shortfall in Zircon sales.
Looking ahead, TRONOX’s management has set a fourth-quarter EBITDA guidance midpoint at $124 million, below the Bloomberg consensus. The company anticipates a decline of 10% to 15% in Titanium Dioxide volumes in the fourth quarter, while Zircon demand is expected to remain stable. These are the recent developments at TRONOX.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Constellation Energy (NASDAQ:) Corp. is on the verge of acquiring Calpine Corp., a move that could mark one of the most significant transactions in the power generation industry, Bloomberg reported on Wednesday.
Baltimore-based Constellation is negotiating with Calpine’s private equity owners to finalize the terms of a deal that could place the value of Calpine at approximately $30 billion, including the assumption of debt, the report said, citing people familiar with the matter.
The potential acquisition, which could be announced within the next few weeks, is still subject to ongoing deliberations, report added.
Constellation’s interest in Calpine underscores the strategic moves within the power sector as companies seek to consolidate and expand their market presence.
While the exact terms of the deal are still being discussed, the acquisition’s completion would likely have considerable implications for both Constellation and the wider power generation sector.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
By John Irish and Alexander Ratz
PARIS/BERLIN (Reuters) -European Union sanctions in Syria that obstruct the delivery of humanitarian aid and hinder the country’s recovery could be lifted swiftly, France’s foreign minister said Wednesday.
The United States on Monday issued a sanctions exemption for transactions with governing institutions in Syria for six months after the end of Bashar al-Assad’s rule to try to ease the flow of humanitarian assistance.
Speaking to France Inter radio, Foreign Minister Jean-Noel Barrot said the EU could take a similar decision soon without giving precise timing, while adding that lifting more political sanctions would depend on how Syria’s new leadership handled the transition.
“There are other (sanctions), which today hinder access to humanitarian aid, which hinder the recovery of the country. These could be lifted quickly,” said Barrot, who met Syria’s de facto leader Ahmed al-Sharaa on Friday with Germany’s foreign minister.
“Finally, there are other sanctions, which we are discussing with our European partners, which could be lifted, but obviously depending on the pace at which our expectations for Syria regarding women and security are taken into account.”
Three European diplomats speaking on condition of anonymity said the EU would seek to agree to lift some sanctions by the time the bloc’s 27 foreign ministers meet in Brussels on Jan. 27.
Two of the diplomats said one aim was to facilitate financial transactions to allow funds to return to the country, ease air transport and lessen sanctions targeting the energy sector to improve power supplies. A third said Germany had put forward a position paper on the potential sanctions to be lifted.
“Due to the new situation, existing sanctions are under scrutiny. Germany has already pitched ideas on this issue,” German foreign ministry spokesperson Christian Wagner said on Wednesday.
“The focus lies on economic questions and return of funds of the Syrian diaspora,” he said.
Syria suffers from severe power shortages, with state-supplied electricity available two or three hours per day in most areas. The caretaker government says it aims to provide electricity for up to eight hours per day within two months.
The U.S. waivers allow some energy transactions and personal remittances to Syria until July 7, but do not remove any sanctions.
WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen said on Wednesday that Nippon Steel’s blocked acquisition of U.S. Steel received a “thorough analysis” by an interagency national security review body that was sent to President Joe Biden.
Yellen, in a live interview on CNBC, said she could not discuss specifics of the review of the merger blocked by Biden last week that is now the subject of a lawsuit that alleges that the review by the Committee on Foreign Investment in the United States (CFIUS) was not conducted in good faith and was prejudiced by Biden.
“I think, as you know, there is ongoing litigation over this case, and as head of CFIUS, I regret there is very little substantive that I can say to you about this,” Yellen said. “Other than that, CFIUS did analyze the specifics, as it always does of this situation, and prepared a thorough analysis to go to the president.”
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