Tronox (NYSE:TROX) Trading 6.5% Higher - Time to Buy?

Shares of Tronox Holdings plc (NYSE:TROX - Get Free Report) shot up 6.5% on Wednesday . The company traded as high as $10.81 and last traded at $10.80. 562,557 shares were traded during mid-day trading, a decline of 49% from the average session volume of 1,102,987 shares. The stock had previously closed at $10.14.

Analysts Set New Price Targets

A number of research analysts have issued reports on TROX shares. BMO Capital Markets reduced their target price on shares of Tronox from $21.00 to $17.00 and set an "outperform" rating for the company in a research note on Tuesday, October 29th. Barclays reduced their price objective on Tronox from $18.00 to $16.00 and set an "overweight" rating for the company in a research report on Monday, October 28th. The Goldman Sachs Group lowered their target price on Tronox from $18.00 to $16.00 and set a "buy" rating on the stock in a research report on Thursday, September 19th. Finally, UBS Group raised Tronox from a "neutral" rating to a "buy" rating and lifted their target price for the company from $17.00 to $19.00 in a research note on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $18.00.

Tronox Stock Up 3.8 %

The firm has a market capitalization of $1.66 billion, a P/E ratio of -21.94 and a beta of 1.59. The firm's fifty day moving average price is $12.28 and its 200-day moving average price is $14.18. The company has a debt-to-equity ratio of 1.42, a current ratio of 2.72 and a quick ratio of 0.90.

Tronox (NYSE:TROX - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.30). The firm had revenue of $804.00 million for the quarter, compared to analyst estimates of $790.63 million. Tronox had a negative net margin of 2.40% and a negative return on equity of 3.91%. The firm's revenue for the quarter was up 21.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.08) earnings per share. As a group, equities research analysts forecast that Tronox Holdings plc will post -0.04 earnings per share for the current year.

Tronox Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, November 11th were given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 4.75%. The ex-dividend date was Friday, November 8th. Tronox's dividend payout ratio (DPR) is presently -104.17%.

Institutional Trading of Tronox

Large investors have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Tronox by 4.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 25,065 shares of the company's stock valued at $393,000 after purchasing an additional 1,014 shares during the last quarter. Raymond James & Associates purchased a new stake in Tronox during the second quarter valued at about $1,360,000. Van Lanschot Kempen Investment Management N.V. boosted its holdings in shares of Tronox by 2.9% in the second quarter. Van Lanschot Kempen Investment Management N.V. now owns 2,426,486 shares of the company's stock worth $38,072,000 after buying an additional 68,155 shares during the period. Hantz Financial Services Inc. purchased a new position in shares of Tronox in the second quarter worth approximately $2,717,000. Finally, nVerses Capital LLC purchased a new position in shares of Tronox in the second quarter worth approximately $121,000. 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.