Iluka Resources Limited (OTCMKTS:ILKAY) Sees Significant Decline in Short Interest

Iluka Resources Limited (OTCMKTS:ILKAY) saw a large decline in short interest during the month of May. As of May 29th, there was short interest totaling 1,400 shares, a decline of 41.8% from the May 14th total of 2,405 shares. Based on an average trading volume of 4,386 shares, the short-interest ratio is currently 0.3 days.

Iluka Resources Stock Performance

ILKAY stock opened at $26.93 on Friday. The business has a fifty day simple moving average of $27.23 and a 200-day simple moving average of $23.06. Iluka Resources has a 52 week low of $11.45 and a 52 week high of $35.77.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Zacks Research upgraded Iluka Resources to a “hold” rating in a report on Wednesday, April 15th. Canaccord Genuity Group downgraded Iluka Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 22nd. Finally, Citigroup downgraded Iluka Resources from a “buy” rating to a “hold” rating in a report on Thursday, April 23rd. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold”.

About Iluka Resources

Iluka Resources is a leading global mineral sands company with operations spanning Australia, Sierra Leone and the United States. The company specializes in the exploration, mining and processing of zircon and titanium dioxide feedstocks, including ilmenite, rutile and synthetic rutile. Iluka’s products serve a broad range of end markets, notably ceramics, refractory, pigment and chemical applications, as well as emerging technology sectors requiring specialty minerals.

Headquartered in Perth, Western Australia, Iluka Resources operates a vertically integrated business model encompassing mine development, mineral separation and marketing to industrial customers worldwide.