Tronox Holdings plc (NYSE:TROX) Short Interest Update

Tronox Holdings plc (NYSE:TROX) saw a significant growth in short interest in September. As of September 15th, there was short interest totalling 5,950,000 shares, a growth of 26.3% from the August 31st total of 4,710,000 shares. Based on an average trading volume of 1,160,000 shares, the days-to-cover ratio is currently 5.1 days. Currently, 5.1% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TROX. The Goldman Sachs Group decreased their price objective on shares of Tronox from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, September 19th. UBS Group reduced their price target on Tronox from $19.00 to $18.00 and set a “neutral” rating for the company in a report on Tuesday, July 9th. StockNews.com upgraded Tronox from a “sell” rating to a “hold” rating in a report on Monday, August 5th. Mizuho initiated coverage on shares of Tronox in a research report on Friday, June 7th. They set a “neutral” rating and a $22.00 price target for the company. Finally, Barclays cut their price target on shares of Tronox from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Tronox has a consensus rating of “Hold” and an average price target of $18.17.

Hedge Funds Weigh In On Tronox

Several hedge funds and other institutional investors have recently modified their holdings of TROX. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Tronox during the second quarter valued at approximately $76,000. Headlands Technologies LLC acquired a new stake in Tronox in the 2nd quarter valued at approximately $83,000. SG Americas Securities LLC bought a new stake in Tronox during the 1st quarter valued at $124,000. nVerses Capital LLC acquired a new position in Tronox during the 2nd quarter worth $121,000. Finally, TFO Wealth Partners LLC grew its stake in shares of Tronox by 260,833.3% in the fourth quarter. TFO Wealth Partners LLC now owns 7,828 shares of the company’s stock worth $111,000 after purchasing an additional 7,825 shares in the last quarter. Institutional investors and hedge funds own 73.36% of the company’s stock.

Tronox Stock Performance

Shares of Tronox stock traded down $0.09 during trading hours on Friday, reaching $14.50. The company’s stock had a trading volume of 1,083,890 shares, compared to its average volume of 1,136,673. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.08 and a current ratio of 2.98. Tronox has a one year low of $10.08 and a one year high of $20.70. The company’s 50 day simple moving average is $13.68 and its 200 day simple moving average is $16.30. The stock has a market cap of $2.29 billion, a P/E ratio of -6.50, a price-to-earnings-growth ratio of 25.62 and a beta of 1.64.

Tronox (NYSE:TROX) last issued its earnings results on Thursday, August 1st. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.11). The company had revenue of $820.00 million during the quarter, compared to analyst estimates of $848.04 million. Tronox had a negative net margin of 2.14% and a negative return on equity of 3.40%. The business’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.16 earnings per share. As a group, analysts expect that Tronox will post 0.44 EPS for the current fiscal year.

Tronox Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Monday, August 26th were given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 3.45%. The ex-dividend date was Monday, August 26th. Tronox’s dividend payout ratio is presently -22.42%.

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.