Iluka Resources (OTCMKTS:ILKAY) Stock Rating Lowered by Canaccord Genuity Group

Iluka Resources (OTCMKTS:ILKAY) was downgraded by investment analysts at Canaccord Genuity Group from a “strong-buy” rating to a “hold” rating in a research note issued on Wednesday,Zacks.com reports.

Other analysts have also recently issued reports about the stock. Citigroup cut shares of Iluka Resources from a “buy” rating to a “hold” rating in a research note on Thursday. Zacks Research raised shares of Iluka Resources to a “hold” rating in a report on Wednesday, April 15th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Iluka Resources presently has an average rating of “Hold”.

Iluka Resources Stock Performance

Shares of ILKAY stock opened at $25.60 on Wednesday. The firm’s 50 day moving average is $22.78 and its 200 day moving average is $21.97. Iluka Resources has a 12 month low of $11.45 and a 12 month high of $35.77.

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.