Tronox (NYSE:TROX) Shares Gap Up – Here’s What Happened
by Kim Johansen · The Markets DailyTronox Holdings PLC (NYSE:TROX – Get Free Report) shares gapped up prior to trading on Thursday . The stock had previously closed at $5.85, but opened at $6.49. Tronox shares last traded at $6.6790, with a volume of 455,693 shares trading hands.
Analyst Ratings Changes
A number of research analysts have recently issued reports on the company. Weiss Ratings lowered Tronox from a “sell (d)” rating to a “sell (d-)” rating in a research report on Monday, May 11th. Truist Financial upgraded Tronox from a “sell” rating to a “hold” rating and set a $7.00 target price on the stock in a report on Thursday, June 11th. UBS Group upped their price objective on shares of Tronox from $7.50 to $9.00 and gave the company a “neutral” rating in a report on Thursday, April 9th. Deutsche Bank Aktiengesellschaft set a $10.00 price objective on Tronox in a research report on Wednesday, May 20th. Finally, The Goldman Sachs Group dropped their price target on shares of Tronox from $9.00 to $6.50 and set a “sell” rating for the company in a research report on Wednesday, July 22nd. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Tronox presently has a consensus rating of “Reduce” and an average target price of $7.25.
View Our Latest Analysis on Tronox
Tronox Trading Up 16.6%
The company has a fifty day simple moving average of $6.75 and a two-hundred day simple moving average of $7.55. The company has a current ratio of 2.42, a quick ratio of 0.66 and a debt-to-equity ratio of 2.36. The company has a market cap of $1.09 billion, a PE ratio of -2.35 and a beta of 0.82.
Tronox (NYSE:TROX – Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.13). Tronox had a negative return on equity of 19.93% and a negative net margin of 15.82%.The firm had revenue of $868.00 million during the quarter, compared to analysts’ expectations of $832.59 million. During the same quarter in the prior year, the firm earned ($0.28) EPS. The firm’s revenue was up 18.7% compared to the same quarter last year. Analysts anticipate that Tronox Holdings PLC will post -1.27 EPS for the current year.
Tronox Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Monday, August 10th will be given a dividend of $0.05 per share. The ex-dividend date is Monday, August 10th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.9%. Tronox’s payout ratio is -6.85%.
Hedge Funds Weigh In On Tronox
Institutional investors have recently modified their holdings of the business. Converium Capital Inc. raised its stake in shares of Tronox by 33.3% during the first quarter. Converium Capital Inc. now owns 200,000 shares of the company’s stock worth $1,954,000 after purchasing an additional 50,000 shares during the last quarter. Royal Bank of Canada boosted its holdings in Tronox by 21,419.9% during the first quarter. Royal Bank of Canada now owns 1,065,665 shares of the company’s stock worth $10,412,000 after buying an additional 1,060,713 shares in the last quarter. Quantinno Capital Management LP boosted its stake in shares of Tronox by 6.7% during the 1st quarter. Quantinno Capital Management LP now owns 167,851 shares of the company’s stock worth $1,640,000 after acquiring an additional 10,595 shares in the last quarter. Lazard Asset Management LLC boosted its position in Tronox by 6.3% during the first quarter. Lazard Asset Management LLC now owns 64,985 shares of the company’s stock worth $635,000 after purchasing an additional 3,861 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in Tronox in the 1st quarter valued at about $2,102,000. 73.36% of the stock is owned by institutional investors and hedge funds.
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.