Morgan Stanley downgraded shares of ILUKA RESOURCES/ADR (OTCMKTS:ILKAY) from an overweight rating to an equal weight rating in a research note released on Wednesday morning, The Fly reports.
Separately, Citigroup downgraded shares of ILUKA RESOURCES/ADR from a neutral rating to a sell rating in a research note on Wednesday.
Shares of ILKAY opened at $31.44 on Wednesday. ILUKA RESOURCES/ADR has a 12-month low of $24.42 and a 12-month high of $38.73. The firm has a 50-day moving average price of $30.97 and a 200 day moving average price of $30.87.
Iluka Resources Limited engages in the exploration, project development, mining, processing, marketing, and rehabilitation of mineral sands. The company operates through Australia, Sierra Rutile, United States, and Mining Area C segments. It produces zircon; titanium dioxide products of rutile and synthetic rutile; and ilmenite, as well as activated carbon and iron concentrate products.
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