Iluka Resources (OTCMKTS:ILKAY) Trading Up 9.4% – Should You Buy?

Iluka Resources Limited (OTCMKTS:ILKAY) shares were up 9.4% on Wednesday . The stock traded as high as $22.56 and last traded at $22.09. Approximately 5,961 shares traded hands during trading, an increase of 112% from the average daily volume of 2,809 shares. The stock had previously closed at $20.20.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Citigroup cut Iluka Resources from a “buy” rating to a “hold” rating in a report on Thursday, April 23rd. Zacks Research raised Iluka Resources to a “hold” rating in a research note on Wednesday, April 15th. Finally, Canaccord Genuity Group upgraded Iluka Resources from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Iluka Resources has an average rating of “Moderate Buy”.

Iluka Resources Stock Down 1.3%

The firm’s fifty day moving average price is $24.65 and its 200 day moving average price is $23.89.

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.