IperionX (NASDAQ:IPX) Now Covered by Analysts at Jefferies Financial Group

Jefferies Financial Group initiated coverage on shares of IperionX (NASDAQ:IPX) in a report released on Wednesday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $26.00 target price on the stock.

A number of other brokerages also recently issued reports on IPX. Roth Capital set a $53.00 price target on IperionX in a research report on Wednesday, August 5th. BTIG Research raised their price objective on IperionX from $40.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, June 5th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of IperionX in a research note on Friday, July 17th. Six investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $46.50.

IperionX Stock Performance

NASDAQ:IPX opened at $21.33 on Wednesday. IperionX has a 52 week low of $20.05 and a 52 week high of $61.45. The firm has a 50 day moving average of $23.81 and a 200 day moving average of $31.48. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.03 and a quick ratio of 4.00.

Insiders Place Their Bets

In other news, CEO Anastasios Arima bought 138,720 shares of IperionX stock in a transaction that occurred on 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 purchase, the chief executive officer directly owned 12,455,502 shares of the company’s stock, valued at approximately $44,590,697.16. The trade was a 1.13% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Todd Hannigan purchased 300,000 shares of the 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 owned 26,633,334 shares in the company, valued at $95,613,669.06. This trade represents a 1.14% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 663,720 shares of company stock valued at $2,379,118 in the last 90 days.

Institutional Investors Weigh In On IperionX

Institutional investors and hedge funds have recently modified their holdings of the company. Van ECK Associates Corp raised its position in IperionX by 61.0% during the 4th 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 during the last quarter. Jane Street Group LLC boosted its holdings in shares of 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 acquiring an additional 49,645 shares during the last quarter. Millennium Management LLC purchased a new stake in shares of IperionX in the 4th quarter valued at $4,249,000. Private Advisor Group LLC increased its stake in shares of 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 period. Finally, Bank of America Corp DE increased its stake in shares of 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 period. Institutional investors and hedge funds own 2.76% of the company’s stock.

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.