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

Shares of Tronox Holdings PLC (NYSE:TROX) gapped up before the market opened 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.

Several other analysts have also weighed in on TROX. UBS Group lifted their price objective on Tronox from $3.80 to $5.25 and gave the stock a “neutral” rating in a report on Monday, January 12th. Mizuho raised their target price on Tronox from $3.00 to $3.50 and gave the stock an “underperform” rating in a research report on Wednesday, December 10th. The Goldman Sachs Group boosted their price target on shares of Tronox from $4.25 to $5.50 and gave the company a “buy” rating in a report on Tuesday, December 16th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $6.00 price objective on shares of Tronox in a research note on Tuesday, December 16th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Tronox in a research note on Wednesday, October 8th. Five equities 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 company. According to MarketBeat, Tronox presently has an average rating of “Hold” and a consensus target price of $5.53.

Institutional Investors Weigh In On Tronox

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TROX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Tronox by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 70,574 shares of the company’s stock worth $497,000 after acquiring an additional 3,042 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Tronox by 48.9% in the second 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. Mitsubishi UFJ Trust & Banking Corp raised its position in Tronox by 20.5% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 22,255 shares of the company’s stock worth $89,000 after purchasing an additional 3,786 shares during the last quarter. Knights of Columbus Asset Advisors LLC lifted its holdings in Tronox by 2.6% during the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 151,576 shares of the company’s stock worth $609,000 after buying an additional 3,828 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its position in Tronox by 25.1% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 22,998 shares of the company’s stock valued at $92,000 after buying an additional 4,618 shares during the last quarter. Institutional investors and hedge funds own 73.36% of the company’s stock.

Tronox Price Performance

The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of -3.15 and a beta of 1.16. The company has a current ratio of 2.72, a quick ratio of 0.73 and a debt-to-equity ratio of 1.97. The company has a 50 day moving average price of $4.44 and a 200 day moving average price of $4.30.

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

Tronox Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 6th. Stockholders of record on Monday, November 10th were given a dividend of $0.05 per share. The ex-dividend date was Monday, November 10th. This represents a $0.20 annualized dividend and a dividend yield of 3.1%. Tronox’s payout ratio is currently -9.76%.

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.