IperionX (NASDAQ:IPX) Now Covered by Jefferies Financial Group

Stock analysts at Jefferies Financial Group began coverage on shares of IperionX (NASDAQ:IPX) in a report released on Wednesday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $26.00 price target on the stock. Jefferies Financial Group’s price target would indicate a potential upside of 21.89% from the company’s current price.

A number of other equities analysts also recently commented on IPX. Roth Capital set a $53.00 price objective on IperionX in a research report on Wednesday, August 5th. BTIG Research increased their price target on shares of IperionX from $40.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, June 5th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of IperionX in a research report on Friday, July 17th. Six analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, IperionX has an average rating of “Moderate Buy” and an average target price of $46.50.

IperionX Stock Up 2.9%

IPX opened at $21.33 on Wednesday. The company’s 50 day simple moving average is $23.81 and its two-hundred day simple moving average is $31.48. IperionX has a 1-year low of $20.05 and a 1-year high of $61.45. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.03 and a quick ratio of 4.00.

Insider Transactions at IperionX

In related news, CEO Anastasios Arima acquired 138,720 shares of IperionX stock in a transaction that occurred on Friday, July 10th. The shares were purchased at an average cost of $3.58 per share, for a total transaction of $496,617.60. Following the acquisition, the chief executive officer owned 12,455,502 shares in the company, valued at approximately $44,590,697.16. This represents a 1.13% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Todd Hannigan bought 300,000 shares of the firm’s stock in a transaction on Monday, July 13th. The stock was bought at an average cost of $3.59 per share, for a total transaction of $1,077,000.00. Following the transaction, the chairman directly owned 26,633,334 shares of the company’s stock, valued at $95,613,669.06. The trade was a 1.14% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 663,720 shares of company stock valued at $2,379,118 over the last three months.

Hedge Funds Weigh In On IperionX

Hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC increased its holdings in IperionX by 40.3% in the 2nd quarter. GAMMA Investing LLC now owns 1,681 shares of the company’s stock valued at $50,000 after purchasing an additional 483 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in IperionX during the second quarter worth $66,000. State of Tennessee Department of Treasury purchased a new position in shares of IperionX during the fourth quarter worth $119,000. Quadrature Capital Ltd grew its stake in shares of IperionX by 42.8% in the fourth quarter. Quadrature Capital Ltd now owns 14,918 shares of the company’s stock valued at $540,000 after buying an additional 4,471 shares in the last quarter. Finally, DV Equities LLC purchased a new stake in shares of IperionX in the 4th quarter valued at $178,000. Hedge funds and other institutional investors own 2.76% of the company’s stock.

About IperionX

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.