Iluka Resources (OTCMKTS:ILKAY) Shares Down 10.7% – Should You Sell?

Iluka Resources Limited (OTCMKTS:ILKAY)’s share price dropped 10.7% on Thursday . The stock traded as low as $18.98 and last traded at $18.98. Approximately 102 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 431 shares. The stock had previously closed at $21.26.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group upgraded Iluka Resources to a “hold” rating in a research note on Wednesday, August 28th.

Iluka Resources Stock Performance

The company has a 50 day simple moving average of $21.34 and a 200 day simple moving average of $21.75.

Iluka Resources Cuts Dividend

The business also recently declared a dividend, which was paid on Tuesday, October 15th. Stockholders of record on Wednesday, September 4th were given a $0.1079 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. Iluka Resources’s dividend payout ratio (DPR) is presently -448.45%.

Iluka Resources Company Profile

Iluka Resources Limited engages in the exploration, project development, mining, processing, marketing, and rehabilitation of mineral sands in Australia, China, rest of Asia, Europe, the Americas, and internationally. It operates through Jacinth-Ambrosia/Mid-West, Cataby/South West, Rare Earths, and United States/Murray Basin segments.