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

Shares of Tronox Holdings plc (NYSE:TROX) gapped up prior to trading on Tuesday . The stock had previously closed at $10.13, but opened at $10.54. Tronox shares last traded at $10.29, with a volume of 72,025 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TROX. The Goldman Sachs Group decreased their price target on shares of Tronox from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. BMO Capital Markets decreased their price target on shares of Tronox from $21.00 to $17.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 29th. Truist Financial began coverage on shares of Tronox in a research note on Tuesday. They issued a “buy” rating and a $17.00 price target on the stock. UBS Group upgraded shares of Tronox from a “neutral” rating to a “buy” rating and upped their price target for the company from $17.00 to $19.00 in a research note on Thursday, October 10th. Finally, Morgan Stanley decreased their price target on shares of Tronox from $16.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.57.

Tronox Stock Performance

The stock’s 50-day simple moving average is $10.64 and its 200-day simple moving average is $12.56. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of -21.22 and a beta of 1.62. The company has a current ratio of 2.72, a quick ratio of 0.90 and a debt-to-equity ratio of 1.42.

Tronox Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, November 11th were given a dividend of $0.125 per share. The ex-dividend date was Friday, November 8th. This represents a $0.50 annualized dividend and a dividend yield of 4.92%. Tronox’s dividend payout ratio is -104.16%.

Institutional Trading of Tronox

Several large investors have recently made changes to their positions in the company. FMR LLC boosted its position in shares of Tronox by 4.7% during the 3rd quarter. FMR LLC now owns 23,805,227 shares of the company’s stock worth $348,270,000 after acquiring an additional 1,073,674 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in shares of Tronox by 0.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 4,321,485 shares of the company’s stock worth $63,223,000 after acquiring an additional 23,686 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Tronox by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,713,606 shares of the company’s stock worth $39,708,000 after acquiring an additional 22,165 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Tronox by 5.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,212,221 shares of the company’s stock worth $32,365,000 after acquiring an additional 112,010 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Tronox by 54.6% during the 3rd quarter. Victory Capital Management Inc. now owns 1,537,723 shares of the company’s stock worth $22,497,000 after acquiring an additional 543,091 shares in the last quarter. Institutional investors and hedge funds own 73.36% of the company’s stock.

Tronox Company Profile

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.