IperionX (NASDAQ:IPX) Hits New 12-Month High – Still a Buy?

IperionX Limited Sponsored ADR (NASDAQ:IPX) shares hit a new 52-week high on Monday . The stock traded as high as $61.45 and last traded at $58.8190, with a volume of 40714 shares traded. The stock had previously closed at $60.11.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on IPX. William Blair started coverage on IperionX in a research note on Tuesday, January 13th. They issued an “outperform” rating on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of IperionX in a research report on Thursday. Roth Mkm reaffirmed a “buy” rating and set a $74.00 price objective on shares of IperionX in a research note on Tuesday, January 20th. Finally, Wall Street Zen lowered shares of IperionX from a “hold” rating to a “sell” rating in a report on Friday, October 3rd. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, IperionX currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.00.

IperionX Stock Down 3.4%

The company has a current ratio of 6.99, a quick ratio of 6.99 and a debt-to-equity ratio of 0.04. The stock’s 50-day simple moving average is $38.06 and its two-hundred day simple moving average is $41.69.

Institutional Investors Weigh In On IperionX

Several large investors have recently bought and sold shares of the company. Jane Street Group LLC raised its holdings in shares of IperionX by 70.4% during the first quarter. Jane Street Group LLC now owns 31,967 shares of the company’s stock valued at $575,000 after acquiring an additional 13,207 shares during the last quarter. GAMMA Investing LLC raised its stake in IperionX by 684.4% in the 2nd quarter. GAMMA Investing LLC now owns 957 shares of the company’s stock valued at $30,000 after purchasing an additional 835 shares during the last quarter. Atlantic Union Bankshares Corp purchased a new position in IperionX in the 2nd quarter valued at $220,000. JPMorgan Chase & Co. acquired a new stake in IperionX during the 2nd quarter worth $66,000. Finally, Thomist Capital Management LP acquired a new stake in IperionX during the 2nd quarter worth $59,384,000. 2.76% of the stock is currently owned by hedge funds and other 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.