Iluka Resources Limited (OTCMKTS:ILKAY) Sees Large Drop in Short Interest

Iluka Resources Limited (OTCMKTS:ILKAY) was the recipient of a large drop in short interest in March. As of March 31st, there was short interest totaling 4,401 shares, a drop of 14.7% from the March 15th total of 5,159 shares. Based on an average daily trading volume, of 1,670 shares, the days-to-cover ratio is currently 2.6 days.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded shares of Iluka Resources to a “hold” rating in a research report on Wednesday. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold”.

Iluka Resources Trading Down 2.2%

Shares of OTCMKTS:ILKAY opened at $26.90 on Friday. The company’s fifty day moving average is $22.12 and its 200 day moving average is $21.84. Iluka Resources has a 52 week low of $11.45 and a 52 week 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.