Iluka Resources (OTCMKTS:ILKAY) Shares Down 1.3% – What’s Next?

Iluka Resources Limited (OTCMKTS:ILKAY) shares were down 1.3% on Thursday. The company traded as low as $18.00 and last traded at $18.00. 3,646 shares traded hands during trading, an increase of 41% from the average session volume of 2,591 shares. The stock had previously closed at $18.23.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group raised shares of Iluka Resources from a “hold” rating to a “strong-buy” rating in a report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

Iluka Resources Stock Down 1.3%

The firm has a 50 day moving average price of $22.25 and a two-hundred day moving average price of $24.41.

About Iluka Resources

Iluka Resources Limited is an Australian mineral sands company that explores, develops and operates mineral sands deposits. Its principal products include zircon, a mineral used in ceramics and other industrial applications, as well as titanium dioxide feedstocks such as rutile, synthetic rutile and ilmenite, which are used in pigments, welding products and other manufacturing processes.

The company operates primarily in Australia and supplies customers in international markets. Iluka has historically maintained mineral sands operations in Western Australia, South Australia and Victoria, and has also held interests in overseas projects.