Tronox (TROX)

• Market cap: $826M
• 1 day: -1.70%
• 5 days: -7.30%
• 1 month: 1.36%
• 3 months: -35.52%
• 6 months: -55.39%
• Year to date: -46.45%
• 1 year: -73.34%
• 5 years: -21.42%
• 10 years: -71.01%
• Sector: Materials
• Industry: Chemicals

About: Tronox Holdings PLC is a vertically integrated manufacturer of TiO2 pigment. It operates titanium-bearing mineral sand mines and beneficiation and smelting operations in Australia & South Africa to produce feedstock materials that can be processed into TiO2 for pigment, high-purity titanium chemicals, including titanium tetrachloride, and ultrafine TiO2 used in certain specialty applications. TiO2 and titanium feedstock, are used to produce paints and coatings, as well as plastics, paper, and printing ink. It has three pigment production facilities in the United States, the Netherlands, and Western Australia and three mining operations in Western Australia and South Africa. Europe, the Middle East, and Africa regions contribute the majority of revenue.

Employees: 6,500

Fund manager confidence

Based on 2025 Q1 regulatory disclosures by fund managers ($100M+ AUM)

201% more call options, than puts

Call options by funds: $3.82M | Put options by funds: $1.27M

80% more repeat investments, than reductions

Existing positions increased: 88 | Existing positions reduced: 49

59% more first-time investments, than exits

New positions opened: 46 | Existing positions closed: 29

5% more funds holding

Funds holding: 204 [Q4 2024] → 215 (+11) [Q1 2025]

4.85% less ownership

Funds ownership: 74.11% [Q4 2024] → 69.25% (-4.85%) [Q1 2025]

35% less capital invested

Capital invested by funds: $1.18B [Q4 2024] → $770M (-$408M) [Q1 2025]

Research analyst outlook

6 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $7 34% upside
• Avg. target: $8.58 65% upside
• High target: $10 92% upside

6 analyst ratings

• positive: 3 50%
• neutral: 3 50%
• negative: 0 0%

BMO Capital John McNulty	34% upside $7	Market Perform Downgraded	7 May 2025
Goldman Sachs Duffy Fischer	44% upside $7.50	Buy Maintained	6 May 2025
Morgan Stanley Vincent Andrews	54% upside $8	Equal-Weight Maintained	5 May 2025
UBS Joshua Spector	92% upside $10	Buy Maintained	1 May 2025
Truist Securities Peter Osterland	92% upside $10	Buy Maintained	14 Apr 2025