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

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

Several other brokerages also recently weighed in on ILKAY. Citigroup downgraded Iluka Resources from a “buy” rating to a “hold” rating in a research note on Thursday. Zacks Research upgraded Iluka Resources to a “hold” rating in a research note on Wednesday, April 15th. Three investment analysts have rated the stock with a Hold rating, According to 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. Iluka Resources has a 12-month low of $11.45 and a 12-month high of $35.77. The firm’s fifty day moving average price is $22.78 and its 200 day moving average price is $21.97.

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.