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

Iluka Resources Limited (OTCMKTS:ILKAY) was the recipient of a large increase in short interest in the month of May. As of May 15th, there was short interest totaling 2,405 shares, an increase of 69.2% from the April 30th total of 1,421 shares. Based on an average daily volume of 7,445 shares, the days-to-cover ratio is currently 0.3 days.

Analysts Set New Price Targets

Several research analysts have commented on ILKAY shares. Zacks Research raised Iluka Resources to a “hold” rating in a research report on Wednesday, April 15th. Citigroup lowered shares of Iluka Resources from a “buy” rating to a “hold” rating in a research report on Thursday, April 23rd. Finally, Canaccord Genuity Group cut shares of Iluka Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 22nd. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat, Iluka Resources currently has an average rating of “Hold”.

Iluka Resources Stock Performance

Shares of ILKAY remained flat at $29.26 during mid-day trading on Wednesday. 421 shares of the stock traded hands, compared to its average volume of 2,759. Iluka Resources has a twelve month low of $11.45 and a twelve month high of $35.77. The company has a fifty day simple moving average of $26.34 and a 200 day simple moving average of $22.75.

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.