IperionX (NASDAQ:IPX) Trading 4.8% Higher – Still a Buy?

IperionX Limited Sponsored ADR (NASDAQ:IPX)’s share price traded up 4.8% during trading on Monday . The company traded as high as $22.02 and last traded at $22.01. Approximately 112,583 shares were traded during trading, a decline of 58% from the average daily volume of 265,157 shares. The stock had previously closed at $21.01.

Analysts Set New Price Targets

IPX has been the topic of a number of recent research reports. Weiss Ratings restated a “sell (e+)” rating on shares of IperionX in a report on Friday, July 17th. BTIG Research lifted their price target on shares of IperionX from $40.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, June 5th. Roth Capital set a $53.00 price objective on shares of IperionX in a research report on Wednesday, August 5th. Finally, Jefferies Financial Group started coverage on shares of IperionX in a research report on Wednesday. They issued a “buy” rating and a $26.00 price objective for the company. Six equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $46.50.

IperionX Stock Down 5.2%

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 stock has a 50-day moving average price of $23.94 and a 200 day moving average price of $31.62.

Insider Transactions at IperionX

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

Institutional Investors Weigh In On IperionX

A number of institutional investors have recently bought and sold shares of IPX. Van ECK Associates Corp raised its stake in 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 purchasing an additional 506,612 shares during the period. Millennium Management LLC acquired a new position in shares of IperionX in the 4th quarter valued at $4,249,000. Jane Street Group LLC grew its stake in shares of IperionX by 62.5% during the 4th quarter. Jane Street Group LLC now owns 129,020 shares of the company’s stock valued at $4,669,000 after buying an additional 49,645 shares during the period. Private Advisor Group LLC grew its stake in shares of IperionX by 69.9% during the 1st quarter. Private Advisor Group LLC now owns 63,111 shares of the company’s stock valued at $1,643,000 after buying an additional 25,964 shares during the period. Finally, Bank of America Corp DE increased its holdings 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 worth $1,116,000 after buying an additional 14,467 shares during the last quarter. 2.76% of the stock is currently owned by hedge funds and other institutional investors.

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.