IperionX Limited Sponsored ADR (NASDAQ:IPX) Receives $60.33 Consensus PT from Analysts

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

IPX has been the subject of a number of analyst reports. Roth Mkm reiterated a “buy” rating on shares of IperionX in a report on Monday. 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. B. Riley Financial lowered their price target on IperionX from $58.00 to $52.00 and set a “buy” rating for the company in a research report on Friday, March 13th. Alliance Global Partners reissued a “buy” rating on shares of IperionX in a research report on Tuesday, April 28th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of IperionX in a research report on Tuesday, April 21st.

IperionX Stock Performance

NASDAQ IPX opened at $36.05 on Wednesday. The company has a fifty day simple moving average of $35.16 and a 200 day simple moving average of $38.16. IperionX has a 12-month low of $21.66 and a 12-month 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.

IperionX (NASDAQ:IPX) last issued its quarterly earnings data on Saturday, January 31st. The company reported ($0.50) earnings per share (EPS) for the quarter. As a group, sell-side analysts expect that IperionX will post -0.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Anastasios Arima purchased 110,000 shares of the stock in a transaction that occurred on Tuesday, April 28th. The stock was acquired at an average cost of $4.49 per share, with a total value of $493,900.00. Following the transaction, the chief executive officer owned 12,316,782 shares of the company’s stock, valued at $55,302,351.18. This represents a 0.90% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Todd Hannigan purchased 260,000 shares of the stock in a transaction that occurred on Wednesday, April 29th. The stock was bought at an average cost of $4.20 per share, with a total value of $1,092,000.00. Following the completion of the transaction, the chairman directly owned 26,108,334 shares in the company, valued at $109,655,002.80. The trade was a 1.01% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased a total of 590,000 shares of company stock valued at $2,571,500 over the last three months.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of IPX. Jane Street Group LLC grew its stake in IperionX by 70.4% in the 1st quarter. Jane Street Group LLC now owns 31,967 shares of the company’s stock valued at $575,000 after purchasing an additional 13,207 shares during the period. JPMorgan Chase & Co. bought a new position in IperionX in the 2nd quarter valued at $66,000. Bank of America Corp DE grew its stake in IperionX by 69.0% in 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 period. Jones Financial Companies Lllp bought a new position in IperionX in the 3rd quarter valued at $36,000. Finally, Private Advisor Group LLC bought a new position in IperionX in the 3rd quarter valued at $405,000. 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.