Tronox (NYSE:TROX) Shares Gap Up on Analyst Upgrade

Tronox Holdings PLC (NYSE:TROX) gapped up prior to trading on Wednesday after Truist Financial raised their price target on the stock from $5.00 to $7.00. The stock had previously closed at $5.54, but opened at $5.85. Truist Financial currently has a buy rating on the stock. Tronox shares last traded at $5.9650, with a volume of 957,572 shares.

TROX has been the topic of a number of other research reports. Mizuho increased their price objective on shares of Tronox from $3.00 to $3.50 and gave the stock an “underperform” rating in a report on Wednesday, December 10th. UBS Group raised their price target on shares of Tronox from $3.80 to $5.25 and gave the company a “neutral” rating in a research note on Monday, January 12th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Tronox in a research report on Friday, October 3rd. The Goldman Sachs Group increased their price objective on Tronox from $4.25 to $5.50 and gave the stock a “buy” rating in a report on Tuesday, December 16th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $6.00 target price on shares of Tronox in a research report on Tuesday, December 16th. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $5.53.

Institutional Trading of Tronox

Several institutional investors have recently modified their holdings of the company. Headlands Technologies LLC bought a new position in Tronox during the second quarter valued at about $38,000. Caitong International Asset Management Co. Ltd acquired a new stake in Tronox in the 3rd quarter valued at about $37,000. Public Employees Retirement System of Ohio boosted its position in shares of Tronox by 48.9% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 9,844 shares of the company’s stock valued at $50,000 after purchasing an additional 3,231 shares in the last quarter. Westview Management dba Westview Investment Advisors bought a new position in shares of Tronox during the 4th quarter valued at about $42,000. Finally, Pacific Sage Partners LLC acquired a new position in shares of Tronox in the 4th quarter worth approximately $46,000. Institutional investors and hedge funds own 73.36% of the company’s stock.

Tronox Price Performance

The firm has a market capitalization of $956.85 million, a P/E ratio of -2.94 and a beta of 1.16. The business’s fifty day moving average is $4.33 and its 200 day moving average is $4.27. The company has a current ratio of 2.72, a quick ratio of 0.73 and a debt-to-equity ratio of 1.97.

Tronox (NYSE:TROX) last issued its earnings results on Thursday, November 6th. The company reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.25). The business had revenue of $699.00 million for the quarter, compared to the consensus estimate of $776.21 million. Tronox had a negative return on equity of 8.10% and a negative net margin of 11.39%.The company’s quarterly revenue was down 13.1% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.13) earnings per share. As a group, analysts forecast that Tronox Holdings PLC will post 0.49 EPS for the current year.

Tronox Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 6th. Investors of record on Monday, November 10th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Monday, November 10th. Tronox’s payout ratio is presently -9.76%.

Tronox Company Profile

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.