IperionX Limited Sponsored ADR (NASDAQ:IPX) Receives $60.33 Average Price Target from Brokerages

Shares of IperionX Limited Sponsored ADR (NASDAQ:IPX) have been assigned a consensus recommendation of “Moderate Buy” from the six research firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $60.3333.

Several equities analysts recently commented on the stock. BTIG Research increased their target price on shares of IperionX from $40.00 to $55.00 and gave the company a “buy” rating in a report on Friday, June 5th. Roth Capital reiterated a “buy” rating on shares of IperionX in a report on Monday, June 8th. Weiss Ratings reissued a “sell (e+)” rating on shares of IperionX in a research note on Friday, July 17th. Finally, Alliance Global Partners restated a “buy” rating on shares of IperionX in a report on Tuesday, April 28th.

IperionX Stock Up 4.0%

IPX stock opened at $21.57 on Thursday. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.03 and a quick ratio of 4.00. IperionX has a one year low of $20.09 and a one year high of $61.45. The company’s 50 day moving average price is $29.53 and its two-hundred day moving average price is $35.55.

Insider Activity at IperionX

In other news, Chairman Todd Hannigan purchased 300,000 shares of the company’s stock in a transaction on Monday, July 13th. The stock was acquired at an average price of $3.59 per share, with a total value of $1,077,000.00. Following the transaction, the chairman directly owned 26,633,334 shares of the company’s stock, valued at approximately $95,613,669.06. This represents a 1.14% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Anastasios Arima purchased 138,720 shares of the business’s stock in a transaction on Friday, July 10th. The stock was 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. The trade was a 1.13% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired 663,720 shares of company stock valued at $2,379,118 in the last quarter.

Hedge Funds Weigh In On IperionX

Several hedge funds and other institutional investors have recently modified their holdings of the company. Private Advisor Group LLC raised its position in IperionX by 69.9% during the 1st quarter. Private Advisor Group LLC now owns 63,111 shares of the company’s stock valued at $1,643,000 after purchasing an additional 25,964 shares during the last quarter. JPMorgan Chase & Co. bought a new stake in shares of IperionX in the 2nd quarter worth approximately $66,000. Corigliano Investment Advisers LLC bought a new stake in shares of IperionX in the 4th quarter worth approximately $362,000. XY Capital Ltd purchased a new position in shares of IperionX during the fourth quarter valued at approximately $290,000. Finally, XTX Topco Ltd bought a new position in shares of IperionX during the fourth quarter valued at approximately $302,000. 2.76% of the stock is owned by institutional investors.

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.