News about TROX

The fair value estimate for Tronox Holdings has moved from US$6.63 to US$5.50, as Truist, Goldman Sachs, UBS and Mizuho have trimmed their price targets and several banks now cluster between US$4 and US$5.50. Goldman Sachs keeps a Sell rating, while Mizuho and JPMorgan point to titanium dioxide oversupply, weak paint and coatings demand and high interest rates. On the business side, Tronox and JX Advanced Metals plan to split about US$32 million on a 50/50 basis for a feasibility study in Australia and a pilot rare earth processing facility in the United States. They are also assessing an integrated rare earth refinery next to Tronox's Hamilton, Mississippi TiO2 plant, targeting up to 10,000 tonnes of rare earth oxides per year.