Iluka Resources (OTCMKTS:ILKAY) Cut to “Hold” at Canaccord Genuity Group

Canaccord Genuity Group lowered shares of Iluka Resources (OTCMKTS:ILKAY) from a strong-buy rating to a hold rating in a research note issued to investors on Wednesday morning,Zacks.com reports.

A number of other equities analysts also recently commented on the stock. Citigroup downgraded shares of Iluka Resources from a “buy” rating to a “hold” rating in a research note on Thursday. Zacks Research upgraded shares of Iluka Resources to a “hold” rating in a research note on Wednesday, April 15th. Three analysts have rated the stock with a Hold rating, According to MarketBeat, Iluka Resources currently has a consensus rating of “Hold”.

Iluka Resources Stock Performance

Shares of ILKAY stock opened at $27.36 on Wednesday. The company’s 50-day simple moving average is $22.95 and its two-hundred day simple moving average is $21.99. Iluka Resources has a one year low of $11.45 and a one year high of $35.77.

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.