This explains the drop today presumably. AFR 19/6/23
UBS says ‘sell’ Iluka ResourcesJoanne TranShare postBroker UBS has downgraded Iluka Resources to a “sell” rating, citing its cautious stance on the outlook of mineral sands as part of the reason for its revision.UBS said the market was surprised by Iluka’s headline sales volume miss in the first quarter of 2023, down 46 per cent year-on-year, despite resilient mineral sands prices.The broker revised the price valuation of the stock to $10.90 a share from $11.95 a share.Iluka shares were down 4.3 per cent to $11.43 a share as of 3.04pm AEST.
This explains the drop today presumably. AFR 19/6/23UBS says...
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| 1 | 1386 | $6.55 |
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| $6.57 | 9080 | 4 |
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