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Tronox Holdings PLC

Tronox Holdings PLC

TROX
$5.84USD↑+1.21%+0.07 today

MARKET CAP

931.6M

P/E (TTM)

—

FWD P/E

—

DAY RANGE

$6 – $6

52W RANGE

$3
$11

AI Summary

Stalk
TrimMedium

TROX remains in Stage 4 – Decline with a clear medium-term bearish bias reinforced by active downtrend patterns and price below all key EMAs. Short-term conditions are neutral as price is extreme oversold with exhaustion visible, indicating limited immediate downside and bounce risk. We recommend trimming into any shallow rallies into the declining 9 EMA, 20 EMA, and 50 DMA resistance zones rather than extending selling at current levels.

  • ↑Significant upward earnings revisions and pricing momentum boost Q2 FCF.
  • ↑Q1 TiO2 volumes hit record highs, aided by anti-dumping duties.
  • ↓Adjusted EBITDA fell 45% YoY to $62M, 8.2% margin.
Full analysis →

The case for & against

Bull & Bear analysis

Bearish

Tronox Holdings PLC (NYSE:TROX) is a leading integrated producer of titanium dioxide (TiO2) and zircon, fundamental materials used in various industrial applications, particularly in paints and coatings. The company operates globally with a vertically integrated business model encompassing mining, production, and sales. The strategic focus on sustainability and cost efficiency positions Tronox favorably in a competitive and cyclically volatile market. Recent geopolitical events and fluctuating trade dynamics, especially concerning anti-dumping duties, continue to influence Tronox's operational landscape.

Bull says

  • ↑Significant upward earnings revisions and pricing momentum boost Q2 FCF.
  • ↑Q1 TiO2 volumes hit record highs, aided by anti-dumping duties.
  • ↑Cost program on track for $125–175M annual savings by 2026.
  • ↑Disciplined capex of ~$260M in 2026 preserves liquidity.
  • ↑Rare earth strategy offers potential new revenue avenues.
  • ↑High momentum and strong liquidity factors support upside.

Bear says

  • ↓Adjusted EBITDA fell 45% YoY to $62M, 8.2% margin.
  • ↓Net loss $103M in Q1, including $15M restructuring charges.
  • ↓Debt at $3.3B with just $674M liquidity heightens leverage risk.
  • ↓Raw-material cost volatility and inflation further pressure margins.
  • ↓2026 EPS consensus at –$1.17 poses value-trap risk.
  • ↓Low profitability and growth factors and weak institutional interest.

Investment themes with TROX

Rare Earth Minerals↓ -0.34%

ALB · PLS.AX · LYC.AX

Earnings Call · Q1 2026 · Mgmt. Guidance

Updated 05-10-2026neutral

Transcript signals

Bull points

  • I'm very confident that we'll start to get into triple digit numbers.
  • We generated revenue of $760 million, an increase of 3% versus the first quarter of 2025, driven by higher TI2 and Zircon volumes.
  • Sequentially, TO2 revenues increased 7%, driven by a 4% increase in volumes and a 3% increase in average selling prices, including mix.

Bear points

  • there's going to be a longer term impact on sulfur. What this war has done is just really shot. I talked about a structural shift in supply of sulfur and demand for sulfur.
  • we are seeing limitations of sulfur, not just pricing in China.
  • When is heavier crude going to become available so when they refine it, more sulfur is available? These are all the structural changes that over time have taken sulfur production down and demand has continued to move up.
Read full transcript analysis ›