IperionX (NASDAQ:IPX) Chairman Purchases $1,077,000.00 in Stock

Key Points

• IperionX Chairman Todd Hannigan bought 300,000 shares on July 13 for about $1.077 million at an average price of $3.59 per share, according to an SEC filing.
• The purchase increased Hannigan’s direct ownership to 26.63 million shares, valued at roughly $95.6 million, marking a 1.14% increase in his position.
• This latest buy follows several other recent insider purchases by Hannigan, while analyst sentiment remains mixed but leans positive with a Moderate Buy consensus and an average price target of $60.33.

IperionX Limited Sponsored ADR (NASDAQ:IPX - Get Free Report) Chairman Todd Hannigan bought 300,000 shares of the firm's stock in a transaction on Monday, July 13th. The shares were purchased at an average cost 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 in the company, valued at approximately $95,613,669.06. This trade 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 this link.

Todd Hannigan also recently made the following trade(s):

• On Friday, July 10th, Todd Hannigan bought 225,000 shares of IperionX stock. The shares were purchased at an average cost of $3.58 per share, with a total value of $805,500.00.
• On Tuesday, April 28th, Todd Hannigan acquired 220,000 shares of IperionX stock. The stock was acquired at an average cost of $4.48 per share, with a total value of $985,600.00.
• On Wednesday, April 29th, Todd Hannigan purchased 260,000 shares of IperionX stock. The stock was acquired at an average cost of $4.20 per share, for a total transaction of $1,092,000.00.

IperionX Stock Performance

IperionX stock opened at $25.03 on Monday. The company has a current ratio of 4.03, a quick ratio of 4.00 and a debt-to-equity ratio of 0.03. The firm's fifty day moving average is $34.28 and its 200 day moving average is $37.50. IperionX Limited Sponsored ADR has a 12-month low of $21.66 and a 12-month high of $61.45.

Hedge Funds Weigh In On IperionX

Hedge funds and other institutional investors have recently modified their holdings of the business. Van ECK Associates Corp increased its position in shares of IperionX by 61.0% during the fourth quarter. Van ECK Associates Corp now owns 1,337,343 shares of the company's stock valued at $48,392,000 after acquiring an additional 506,612 shares during the last quarter. Millennium Management LLC purchased a new position in IperionX in the fourth quarter worth $4,249,000. Jane Street Group LLC grew its stake in IperionX by 62.5% in the 4th quarter. Jane Street Group LLC now owns 129,020 shares of the company's stock valued at $4,669,000 after purchasing an additional 49,645 shares during the period. 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 valued at $1,643,000 after purchasing an additional 25,964 shares during the period. Finally, Bank of America Corp DE increased its position in shares of IperionX by 69.0% during the 2nd quarter. Bank of America Corp DE now owns 35,441 shares of the company's stock valued at $1,116,000 after purchasing an additional 14,467 shares during the last quarter. Hedge funds and other institutional investors own 2.76% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on IPX. BTIG Research upped their price target on IperionX from $40.00 to $55.00 and gave the stock a "buy" rating in a report on Friday, June 5th. Weiss Ratings restated a "sell (e+)" rating on shares of IperionX in a research note on Tuesday, April 21st. Alliance Global Partners reaffirmed a "buy" rating on shares of IperionX in a report on Tuesday, April 28th. Finally, Roth Capital reiterated a "buy" rating on shares of IperionX in a research note on Monday, June 8th. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $60.33.

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.

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