Tronox Holdings plc (TROX) shares plummeted 5.08% in pre-market trading on Wednesday following a significant downgrade from BMO Capital. The world's leading integrated manufacturer of titanium dioxide pigment faced a double blow as analysts reassessed their outlook on the company.

BMO Capital downgraded Tronox from Outperform to Market Perform, signaling a less optimistic view of the company's near-term prospects. Adding to the bearish sentiment, the firm also substantially cut its price target for Tronox shares from $13 to $7, representing a nearly 46% reduction. This drastic adjustment in valuation has likely triggered a sell-off among investors, contributing to the sharp decline in the stock price.

Despite the negative market reaction, Tronox announced its second quarter 2025 dividend of $0.125 per share, payable on July 2, 2025, to shareholders of record as of May 19, 2025. However, this routine dividend declaration appears to have been overshadowed by the analyst downgrade. As of the latest FactSet poll, Tronox still maintains an average rating of overweight among analysts, with a mean price target of $9.86, although this consensus may shift following BMO Capital's revised outlook.