Tronox Ltd (NYSE:TROX) Short Interest Update

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Tronox Ltd (NYSE:TROX) was the target of a large decline in short interest in the month of July. As of July 31st, there was short interest totalling 8,672,300 shares, a decline of 12.5% from the June 30th total of 9,913,500 shares. Based on an average trading volume of 1,710,000 shares, the days-to-cover ratio is presently 5.1 days. Currently, 9.5% of the shares of the company are sold short.

Shares of Tronox stock traded down $0.42 during trading on Thursday, hitting $7.31. The stock had a trading volume of 109,309 shares, compared to its average volume of 1,350,143. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of 13.34 and a beta of 3.29. Tronox has a 12 month low of $6.46 and a 12 month high of $16.75. The company’s 50-day moving average price is $11.22. The company has a debt-to-equity ratio of 4.80, a quick ratio of 4.72 and a current ratio of 5.82.

Tronox (NYSE:TROX) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.17. The firm had revenue of $791.00 million for the quarter, compared to analysts’ expectations of $776.00 million. Tronox had a negative net margin of 4.60% and a positive return on equity of 5.58%. The business’s quarterly revenue was up 60.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.31 earnings per share. On average, sell-side analysts expect that Tronox will post 0.46 earnings per share for the current fiscal year.

Several research analysts have recently weighed in on TROX shares. ValuEngine cut shares of Tronox from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. BMO Capital Markets set a $18.00 price target on shares of Tronox and gave the stock a “buy” rating in a report on Monday. Alembic Global Advisors set a $19.00 price target on shares of Tronox and gave the stock a “buy” rating in a report on Friday, May 10th. Morgan Stanley set a $15.00 price target on shares of Tronox and gave the stock a “hold” rating in a report on Wednesday, June 19th. Finally, Zacks Investment Research cut shares of Tronox from a “buy” rating to a “hold” rating in a report on Tuesday. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. Tronox has a consensus rating of “Hold” and a consensus target price of $14.86.

In other Tronox news, Director Wayne A. Hinman bought 5,000 shares of the stock in a transaction on Thursday, August 8th. The shares were acquired at an average price of $8.80 per share, with a total value of $44,000.00. Following the acquisition, the director now directly owns 152,455 shares of the company’s stock, valued at approximately $1,341,604. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Jeffry N. Quinn bought 9,600 shares of the stock in a transaction on Tuesday, June 4th. The shares were acquired at an average cost of $10.45 per share, for a total transaction of $100,320.00. Following the acquisition, the chairman now directly owns 266,720 shares in the company, valued at $2,787,224. The disclosure for this purchase can be found here. Insiders have acquired a total of 34,027 shares of company stock worth $349,315 in the last three months. Insiders own 1.30% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Optimum Investment Advisors bought a new position in Tronox in the first quarter valued at $39,000. Tower Research Capital LLC TRC bought a new position in Tronox in the second quarter valued at $43,000. Quantamental Technologies LLC bought a new position in Tronox in the first quarter valued at $64,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Tronox by 26.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,882 shares of the company’s stock valued at $75,000 after acquiring an additional 1,244 shares during the last quarter. Finally, Daiwa Securities Group Inc. bought a new position in Tronox in the first quarter valued at $92,000. 56.67% of the stock is currently owned by institutional investors and hedge funds.

About Tronox

Tronox Holdings plc engages in the mining, production, and marketing of inorganic minerals and chemicals in North America, South and Central America, Europe, the Middle East, Africa, and the Asia Pacific. It mines and processes titanium ore, zircon, and other minerals; and manufactures titanium dioxide pigments that add brightness and durability to paints, plastics, paper, and other everyday products.

Read More: Debt-To-Equity Ratio

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