IperionX Limited Sponsored ADR (NASDAQ:IPX) Given Average Rating of “Moderate Buy” by Brokerages

Shares of IperionX Limited Sponsored ADR (NASDAQ:IPX) have been given an average recommendation of “Moderate Buy” by the six ratings firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating and five have issued a buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $60.3333.

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

Insiders Place Their Bets

In related news, Chairman Todd Hannigan acquired 300,000 shares of IperionX stock in a transaction dated Monday, July 13th. The shares were acquired at an average cost of $3.59 per share, for a total transaction of $1,077,000.00. Following the completion of the purchase, the chairman owned 26,633,334 shares in the company, valued at approximately $95,613,669.06. The trade was a 1.14% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Anastasios Arima acquired 138,720 shares of IperionX stock in a transaction dated Friday, July 10th. The stock was bought at an average price of $3.58 per share, for a total transaction of $496,617.60. Following the completion of the purchase, the chief executive officer owned 12,455,502 shares of the company’s stock, valued at approximately $44,590,697.16. This represents a 1.13% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought 663,720 shares of company stock worth $2,379,118 in the last ninety days.

Hedge Funds Weigh In On IperionX

Several hedge funds and other institutional investors have recently made changes to their positions in IPX. Van ECK Associates Corp grew 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 worth $48,392,000 after buying an additional 506,612 shares in the last quarter. Millennium Management LLC acquired a new stake in IperionX in the fourth quarter valued at approximately $4,249,000. Jane Street Group LLC raised its holdings in IperionX by 62.5% in the fourth quarter. Jane Street Group LLC now owns 129,020 shares of the company’s stock valued at $4,669,000 after acquiring an additional 49,645 shares in the last quarter. Private Advisor Group LLC lifted its stake in IperionX by 69.9% in the first quarter. Private Advisor Group LLC now owns 63,111 shares of the company’s stock worth $1,643,000 after acquiring an additional 25,964 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in IperionX by 69.0% in the second quarter. Bank of America Corp DE now owns 35,441 shares of the company’s stock worth $1,116,000 after acquiring an additional 14,467 shares during the last quarter. Hedge funds and other institutional investors own 2.76% of the company’s stock.

IperionX Trading Down 8.7%

NASDAQ:IPX opened at $20.25 on Thursday. IperionX has a fifty-two week low of $20.09 and a fifty-two week high of $61.45. The company has a quick ratio of 4.00, a current ratio of 4.03 and a debt-to-equity ratio of 0.03. The company has a 50 day moving average price of $30.48 and a 200 day moving average price of $36.06.

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.