IperionX Limited Sponsored ADR (NASDAQ:IPX) Receives $60.33 Average PT from Analysts

Shares of IperionX Limited Sponsored ADR (NASDAQ:IPX) have received an average rating of “Moderate Buy” from the six research firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $60.3333.

IPX has been the subject of a number of research analyst reports. B. Riley Financial dropped their price target on IperionX from $58.00 to $52.00 and set a “buy” rating for the company in a research report on Friday, March 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of IperionX in a research note on Tuesday, April 21st. Roth Capital restated a “buy” rating on shares of IperionX in a report on Monday, June 8th. BTIG Research lifted their target price on shares of IperionX from $40.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, June 5th. Finally, Alliance Global Partners reaffirmed a “buy” rating on shares of IperionX in a report on Tuesday, April 28th.

Insider Buying and Selling

In related news, Chairman Todd Hannigan bought 260,000 shares of IperionX stock in a transaction that occurred on Wednesday, April 29th. The shares were purchased at an average price of $4.20 per share, with a total value of $1,092,000.00. Following the purchase, the chairman owned 26,108,334 shares in the company, valued at $109,655,002.80. This represents a 1.01% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Anastasios Arima bought 110,000 shares of the stock in a transaction on Tuesday, April 28th. The shares were bought at an average price of $4.49 per share, for a total transaction of $493,900.00. Following the acquisition, the chief executive officer owned 12,316,782 shares in the company, valued at $55,302,351.18. The trade was a 0.90% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders purchased 590,000 shares of company stock worth $2,571,500.

Institutional Investors Weigh In On IperionX

Hedge funds have recently modified their holdings of the company. GAMMA Investing LLC raised its position in shares of IperionX by 40.3% in the second quarter. GAMMA Investing LLC now owns 1,681 shares of the company’s stock valued at $50,000 after buying an additional 483 shares during the last quarter. DLD Asset Management LP acquired a new stake in IperionX during the first quarter worth approximately $260,000. Private Advisor Group LLC grew its stake in IperionX by 69.9% in the 1st quarter. Private Advisor Group LLC now owns 63,111 shares of the company’s stock worth $1,643,000 after acquiring an additional 25,964 shares during the period. State of Tennessee Department of Treasury purchased a new stake in IperionX in the 4th quarter worth approximately $119,000. Finally, XTX Topco Ltd acquired a new position in IperionX in the 4th quarter valued at $302,000. 2.76% of the stock is owned by institutional investors and hedge funds.

IperionX Stock Down 0.5%

Shares of IPX stock opened at $23.75 on Friday. The stock has a fifty day moving average price of $34.36 and a 200 day moving average price of $37.57. IperionX has a 1 year low of $21.66 and a 1 year high of $61.45. The company has a quick ratio of 4.00, a current ratio of 4.03 and a debt-to-equity ratio of 0.03.

IperionX Company Profile

IperionX (NASDAQ: IPX) is a mineral technology company focused on the production and commercialization of high‐purity titanium and zirconium products. The company’s core activities include the development of advanced mineral sands projects and the deployment of proprietary processing technologies aimed at supplying feedstocks to aerospace, defense, additive manufacturing and battery markets.

At the heart of IperionX’s operations is the Stony Creek Project in Virginia, where the company holds significant mineral sands rights.