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

Iluka Resources Limited (OTCMKTS:ILKAY) fell 2% during mid-day trading on Tuesday . The company traded as low as $22.55 and last traded at $22.55. 305 shares were traded 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 subject of several recent research reports. Zacks Research raised shares of Iluka Resources to a “hold” rating in a research report on Wednesday, April 15th. Citigroup lowered shares of Iluka Resources from a “buy” rating to a “hold” rating in a research note on Thursday, April 23rd. Finally, Canaccord Genuity Group upgraded shares of Iluka Resources from a “hold” rating to a “strong-buy” rating in a report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Iluka Resources Price Performance

The company has a fifty day moving average of $26.97 and a two-hundred day moving average of $23.67.

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.