Iluka Resources (OTCMKTS:ILKAY) Shares Down 4.8% – Should You Sell?

Iluka Resources Limited (OTCMKTS:ILKAY)’s share price fell 4.8% during mid-day trading on Thursday. The stock traded as low as $19.8212 and last traded at $19.8212. Approximately 2,559 shares traded hands during trading, a decline of 2% from the average session volume of 2,603 shares. The stock had previously closed at $20.82.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group raised 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 assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

Iluka Resources Stock Down 4.8%

The company’s 50 day simple moving average is $23.38 and its two-hundred day simple moving average is $24.72.

Iluka Resources Company Profile

Iluka Resources Limited is an Australian mineral sands company that explores, develops and operates mineral sands projects. Its principal products include zircon, rutile and synthetic rutile, which are used in ceramics, pigments, welding, titanium dioxide production and other industrial applications.

The company’s operations and projects are primarily located in Australia, with a history of international mineral sands activities. Iluka has produced mineral sands from locations including Western Australia, South Australia and Victoria, and supplies customers in global markets.