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

Iluka Resources Limited (OTCMKTS:ILKAY) was the target of a significant growth in short interest during the month of May. As of May 15th, there was short interest totaling 2,405 shares, a growth 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 presently 0.3 days.

Iluka Resources Stock Performance

OTCMKTS ILKAY remained flat at $29.26 on Wednesday. The company’s stock had a trading volume of 421 shares, compared to its average volume of 2,759. The firm has a fifty day moving average price of $26.34 and a 200-day moving average price of $22.75. Iluka Resources has a 52 week low of $11.45 and a 52 week high of $35.77.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Canaccord Genuity Group lowered shares of Iluka Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 22nd. Citigroup cut shares of Iluka Resources from a “buy” rating to a “hold” rating in a research note on Thursday, April 23rd. Finally, Zacks Research raised shares of Iluka Resources to a “hold” rating in a report on Wednesday, April 15th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

About Iluka Resources

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.