Tronox (NYSE:TROX) Shares Gap Up – Time to Buy?

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

Wall Street Analyst Weigh In

TROX has been the topic of several recent analyst reports. Truist Financial upgraded shares of Tronox from a “sell” rating to a “hold” rating and set a $7.00 price objective on the stock in a report on Thursday, June 11th. Weiss Ratings downgraded shares of Tronox from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, May 11th. Deutsche Bank Aktiengesellschaft set a $10.00 target price on Tronox in a research report on Wednesday, May 20th. Wall Street Zen cut Tronox from a “hold” rating to a “sell” rating in a research note on Saturday, June 6th. Finally, The Goldman Sachs Group lowered their price target on 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 assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $7.25.

Tronox Stock Performance

The firm’s 50 day moving average is $6.69 and its two-hundred day moving average is $7.55. The stock has a market capitalization of $1.04 billion, a PE ratio of -1.89 and a beta of 0.82. The company has a debt-to-equity ratio of 2.36, a quick ratio of 0.66 and a current ratio of 2.42.

Tronox (NYSE:TROX) last released its earnings results on Wednesday, August 5th. 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 23.24% and a negative net margin of 17.96%.The business had revenue of $868.00 million for the quarter, compared to analyst estimates of $832.59 million. During the same quarter last year, the company earned ($0.28) earnings per share. Tronox’s quarterly revenue was up 18.7% compared to the same quarter last year. As a group, research analysts predict that Tronox Holdings PLC will post -1.27 earnings per share for the current year.

Tronox Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Monday, August 10th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Monday, August 10th. Tronox’s payout ratio is presently -6.85%.

Institutional Investors Weigh In On Tronox

Hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC acquired a new position in shares of Tronox during the first quarter worth about $1,188,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Tronox by 4.5% during the 1st 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Tronox by 12.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 366,203 shares of the company’s stock valued at $2,578,000 after purchasing an additional 41,092 shares during the last quarter. Jane Street Group LLC increased its position in shares of Tronox by 93.2% in the 1st quarter. Jane Street Group LLC now owns 118,637 shares of the company’s stock valued at $835,000 after purchasing an additional 57,237 shares during the last quarter. Finally, Prudential Financial Inc. acquired a new stake in shares of Tronox in the 2nd quarter valued at $79,000. Institutional investors and hedge funds own 73.36% of the company’s stock.

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.