RBC Boosts Stake in Tronox Holdings with Massive Share Purchase

Royal Bank of Canada significantly increased its stake in Tronox Holdings PLC (NYSE:TROX) by 21,419.9% in the first quarter, according to a recent Securities & Exchange Commission disclosure.

The bank purchased an additional 1,060,713 shares during the quarter, growing its total stake to 1,065,665 shares of Tronox's stock.

This represents 0.67% ownership of Tronox, valued at $10,412,000 as of the most recent reporting period.

Royal Bank of Canada is not the only institution to have increased its stake in Tronox; PNC Financial Services Group Inc. lifted its position by 292.2% in the fourth quarter, owning a total of 8,715 shares valued at $36,000.

Analysts have set various price targets for Tronox, with Deutsche Bank Aktiengesellschaft setting a target of $10.00 and The Goldman Sachs Group dropping their target from $9.00 to $6.50.