Tronox (NYSE:TROX) Shares Up 8.6% – Here’s What Happened

Tronox Holdings PLC (NYSE:TROX)’s share price traded up 8.6% during mid-day trading on Tuesday . The company traded as high as $3.53 and last traded at $3.68. 389,880 shares were traded during mid-day trading, a decline of 88% from the average session volume of 3,305,129 shares. The stock had previously closed at $3.39.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TROX. The Goldman Sachs Group lowered their target price on shares of Tronox from $7.00 to $4.50 and set a “buy” rating on the stock in a research note on Thursday, August 7th. JPMorgan Chase & Co. restated a “neutral” rating on shares of Tronox in a research report on Friday, October 3rd. Morgan Stanley cut their target price on Tronox from $8.00 to $4.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 6th. Mizuho lowered their price objective on shares of Tronox from $3.50 to $3.00 and set an “underperform” rating for the company in a report on Thursday, November 6th. Finally, Alembic Global Advisors reiterated an “overweight” rating and issued a $6.00 target price on shares of Tronox in a research report on Monday, September 15th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $4.92.

Tronox Stock Performance

The firm has a market cap of $630.24 million, a P/E ratio of -2.52 and a beta of 1.36. The business’s fifty day simple moving average is $3.72 and its 200-day simple moving average is $4.51. The company has a current ratio of 2.10, a quick ratio of 0.52 and a debt-to-equity ratio of 1.64.

Tronox (NYSE:TROX) last posted its 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). Tronox had a negative return on equity of 4.83% and a negative net margin of 8.48%.The business had revenue of $699.00 million during the quarter, compared to the consensus estimate of $776.21 million. During the same period in the previous year, the business earned ($0.13) earnings per share. The firm’s revenue for the quarter was down 13.1% compared to the same quarter last year. As a group, sell-side analysts expect that Tronox Holdings PLC will post 0.49 earnings per share for the current year.

Tronox Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Monday, November 10th will be issued a $0.05 dividend. The ex-dividend date is Monday, November 10th. This represents a $0.20 annualized dividend and a yield of 5.0%. Tronox’s payout ratio is -9.76%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Headlands Technologies LLC bought a new stake in shares of Tronox during the 2nd quarter valued at about $38,000. Caitong International Asset Management Co. Ltd bought a new stake in Tronox during the 3rd quarter valued at approximately $37,000. Public Employees Retirement System of Ohio boosted its position in 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 acquiring an additional 3,231 shares in the last quarter. CWM LLC raised its position in shares of Tronox by 1,186.7% in the 1st quarter. CWM LLC now owns 10,731 shares of the company’s stock worth $76,000 after acquiring an additional 9,897 shares in the last quarter. Finally, Amplius Wealth Advisors LLC purchased a new position in shares of Tronox in the 2nd quarter valued at approximately $64,000. 73.36% of the stock is currently owned by institutional investors.

About Tronox

Tronox Holdings plc operates as a vertically integrated manufacturer of TiO2 pigment in North America, South and Central America, Europe, the Middle East, Africa, and the Asia Pacific. The company operates titanium-bearing mineral sand mines; and engages in beneficiation and smelting operations. It offers TiO2 pigment; ultrafine specialty TiO2; zircon; feedstock; pig iron; monazite; titanium tetrachloride; and other products.