Iluka Resources (OTCMKTS:ILKAY) Downgraded by Canaccord Genuity Group to “Hold”

Canaccord Genuity Group downgraded shares of Iluka Resources (OTCMKTS:ILKAY) from a strong-buy rating to a hold rating in a report released on Wednesday,Zacks.com reports.

Several other research analysts also recently issued reports on the company. Citigroup downgraded 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 research report on Wednesday, April 15th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Iluka Resources presently has an average rating of “Hold”.

Iluka Resources Stock Down 11.0%

Iluka Resources stock opened at $25.60 on Wednesday. The business has a 50 day moving average of $22.78 and a 200-day moving average of $21.97. Iluka Resources has a 1 year low of $11.45 and a 1 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.