Tronox (NYSE:TROX) Shares Gap Up - Still a Buy?

Shares of Tronox Holdings plc (NYSE:TROX - Get Free Report) 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 traded.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Morgan Stanley reduced their target price on Tronox from $16.00 to $12.00 and set an "equal weight" rating on the stock in a research report on Monday, January 13th. Barclays dropped their price objective on Tronox from $18.00 to $16.00 and set an "overweight" rating for the company in a report on Monday, October 28th. BMO Capital Markets reduced their target price on Tronox from $21.00 to $17.00 and set an "outperform" rating on the stock in a report on Tuesday, October 29th. UBS Group raised Tronox from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $17.00 to $19.00 in a research note on Thursday, October 10th. Finally, The Goldman Sachs Group dropped their target price on shares of Tronox from $15.00 to $13.00 and set a "buy" rating for the company in a research report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Tronox currently has an average rating of "Moderate Buy" and a consensus price target of $16.57.

Tronox Price Performance

The company has a debt-to-equity ratio of 1.42, a current ratio of 2.72 and a quick ratio of 0.90. The business's 50-day moving average price is $10.62 and its two-hundred day moving average price is $12.52. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of -21.36 and a beta of 1.62.

Tronox Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, November 11th were paid a $0.125 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 4.88%. Tronox's dividend payout ratio (DPR) is presently -104.16%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of TROX. Point72 Asia Singapore Pte. Ltd. lifted its stake in Tronox by 34.6% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,548 shares of the company's stock worth $96,000 after purchasing an additional 1,683 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Tronox by 5.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 45,701 shares of the company's stock worth $717,000 after buying an additional 2,180 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Tronox by 9.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,548 shares of the company's stock valued at $399,000 after buying an additional 2,488 shares during the period. KBC Group NV lifted its holdings in Tronox by 59.4% in the fourth quarter. KBC Group NV now owns 6,949 shares of the company's stock worth $70,000 after acquiring an additional 2,590 shares during the last quarter. Finally, nVerses Capital LLC boosted its stake in Tronox by 35.1% in the third quarter. nVerses Capital LLC now owns 10,400 shares of the company's stock valued at $152,000 after acquiring an additional 2,700 shares during the period. Institutional investors 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.