TROX

Tronox Holdings plc

Industrial/Transportation


Presented:03/18/2021
Price:$18.48
Cap:$2.65B
Current Price:$14.19
Cap:$2.24B

Presented

Date03/18/2021
Price$18.48
Market Cap$2.65B
Ent Value$5.08B
P/E Ratio2.77x
Book Value$11.83
Div Yield1.57%
Shares O/S143.56M
Ave Daily Vol1,595,703
Short Int7.71%

Current

Price$14.19
Market Cap$2.24B
Tronox Holdings Plc engages in the mining and inorganic chemical business. Its products include Titanium Dioxide Mineral Sands. The firm also mines and processes titanium ore, zircon and other minerals, and manufactures titanium dioxide pigments. The company was founded in 2006 and is headquartered in Stamford, CT.

Publicly traded companies mentioned herein: DuPont de Nemours Inc (DD), Kronos Worldwide, Inc. (KRO), Lomon Billions Group (002601 CH), PPG Industries, Inc. (PPG), The Chemours Company (CC), Tronox Holdings PLC (TROX), Venator Materials PLC (VNTR)

Highlights

The presenter is long shares of Tronox Holdings (TROX), a leading TiO2 producer with an ~$2.8B market cap and ~$5.8B EV. The stock trades ~$30MM in daily volume. He thinks that the stock is “extremely cheap” even on a trailing basis, at ~9x 2020 EBITDA given a very weak 2020. As the demand recovers and the market shifts into a more favorable environment, he believes that the company can significantly expand EBITDA to $1.2B - $1.5B. At 7x his estimate, the stock can potentially double from its current price of ~$18.

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Idea Discussion

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