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

Tronox Holdings plc (NYSE:TROXGet Free Report) gapped up before the market opened 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 Ratings Changes

TROX has been the topic of a number of recent research reports. UBS Group raised 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 report on Thursday, October 10th. BMO Capital Markets dropped their price objective on shares of Tronox from $21.00 to $17.00 and set an “outperform” rating on the stock in a report on Tuesday, October 29th. Barclays reduced their target price on shares of Tronox from $18.00 to $16.00 and set an “overweight” rating for the company in a research note on Monday, October 28th. Morgan Stanley dropped 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. Finally, Truist Financial began coverage on shares of Tronox in a research note on Tuesday. They issued a “buy” rating and a $17.00 price objective for the company. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $16.57.

Read Our Latest Research Report on Tronox

Tronox Stock Performance

The stock’s fifty day moving average is $10.59 and its two-hundred day moving average is $12.50. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.90 and a current ratio of 2.72.

Hedge Funds Weigh In On Tronox

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. raised its position in shares of Tronox by 34.6% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,548 shares of the company’s stock valued at $96,000 after buying an additional 1,683 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Tronox by 5.0% during the second quarter. The Manufacturers Life Insurance Company now owns 45,701 shares of the company’s stock valued at $717,000 after purchasing an additional 2,180 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Tronox by 9.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,548 shares of the company’s stock worth $399,000 after purchasing an additional 2,488 shares during the last quarter. KBC Group NV boosted its holdings in shares of Tronox by 59.4% in the 4th quarter. KBC Group NV now owns 6,949 shares of the company’s stock worth $70,000 after purchasing an additional 2,590 shares in the last quarter. Finally, nVerses Capital LLC boosted its holdings in shares of Tronox by 35.1% in the 3rd quarter. nVerses Capital LLC now owns 10,400 shares of the company’s stock worth $152,000 after purchasing an additional 2,700 shares in the last quarter. Hedge funds and other institutional investors own 73.36% of the company’s stock.

Tronox Company Profile

(Get Free Report)

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.

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