IperionX Limited Sponsored ADR (NASDAQ:IPX) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• Analyst consensus: IperionX has a “Moderate Buy” rating from six analysts—five buys and one sell—with an average 12-month price target of $60.33.
• Insider buying: Chairman Todd Hannigan and CEO Anastasios Arima recently purchased shares, contributing to 663,720 shares bought by insiders over the past 90 days for approximately $2.38 million.
• Stock performance: IPX opened at $20.25, near its one-year low of $20.09 and substantially below its 50-day and 200-day moving averages of $30.48 and $36.06, respectively.

IperionX Limited Sponsored ADR (NASDAQ:IPX - Get Free Report) has been given an average rating of "Moderate Buy" by the six research firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $60.3333.

IPX has been the subject of several recent research reports. Alliance Global Partners reaffirmed a "buy" rating on shares of IperionX in a report on Tuesday, April 28th. BTIG Research upped their target price on IperionX from $40.00 to $55.00 and gave the company a "buy" rating in a report on Friday, June 5th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of IperionX in a research note on Friday, July 17th. Finally, Roth Capital reiterated a "buy" rating on shares of IperionX in a report on Monday, June 8th.

Insider Activity

In other news, Chairman Todd Hannigan bought 300,000 shares of IperionX stock in a transaction on Monday, July 13th. The shares were bought at an average cost of $3.59 per share, with a total value of $1,077,000.00. Following the completion of the purchase, the chairman directly owned 26,633,334 shares of the company's stock, valued at approximately $95,613,669.06. This trade represents a 1.14% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Anastasios Arima bought 138,720 shares of the firm's stock in a transaction on Friday, July 10th. The stock was purchased at an average price of $3.58 per share, for a total transaction of $496,617.60. Following the completion of the acquisition, the chief executive officer directly owned 12,455,502 shares in the company, valued at $44,590,697.16. The trade was a 1.13% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have purchased 663,720 shares of company stock valued at $2,379,118.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its position in 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 purchasing an additional 483 shares during the period. JPMorgan Chase & Co. purchased a new position in shares of IperionX during the 2nd quarter worth $66,000. State of Tennessee Department of Treasury acquired a new stake in shares of IperionX during the 4th quarter worth about $119,000. DV Equities LLC acquired a new stake in shares of IperionX during the 4th quarter worth about $178,000. Finally, Man Group plc purchased a new stake in IperionX in the 4th quarter valued at about $257,000. 2.76% of the stock is currently owned by hedge funds and other institutional investors.

IperionX Stock Down 8.7%

IPX opened at $20.25 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. The company's 50 day simple moving average is $30.48 and its two-hundred day simple moving average is $36.06. IperionX has a 1-year low of $20.09 and a 1-year high of $61.45.

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.

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