Iluka Resources (OTCMKTS:ILKAY) Trading Down 2% – Should You Sell?

Iluka Resources Limited (OTCMKTS:ILKAY)’s share price was down 2% during mid-day trading on Tuesday . The company traded as low as $22.55 and last traded at $22.55. Approximately 305 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 2,750 shares. The stock had previously closed at $23.00.

Wall Street Analyst Weigh In

ILKAY has been the topic of several research reports. Canaccord Genuity Group raised shares of Iluka Resources from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, June 24th. Citigroup cut Iluka Resources from a “buy” rating to a “hold” rating in a research note on Thursday, April 23rd. Finally, Zacks Research upgraded shares of Iluka Resources to a “hold” rating in a research report on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.

Iluka Resources Stock Performance

The business has a 50-day simple moving average of $27.03 and a two-hundred day simple moving average of $23.63.

Iluka Resources Company Profile

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.