IperionX (NASDAQ:IPX) Reaches New 1-Year High – Time to Buy?

IperionX Limited Sponsored ADR (NASDAQ:IPX)’s stock price reached 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.

Analyst Upgrades and Downgrades

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

IperionX Trading Down 3.4%

The stock has a 50-day simple moving average of $38.06 and a 200 day simple moving average of $41.69. The company has a quick ratio of 6.99, a current ratio of 6.99 and a debt-to-equity ratio of 0.04.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Thomist Capital Management LP purchased a new stake in shares of IperionX in the 2nd quarter valued at approximately $59,384,000. Van ECK Associates Corp acquired a new stake in IperionX in the 3rd quarter valued at approximately $40,997,000. Jane Street Group LLC increased its holdings in IperionX by 73.8% in the 2nd quarter. Jane Street Group LLC now owns 55,558 shares of the company’s stock valued at $1,750,000 after purchasing an additional 23,591 shares during the last quarter. Bank of America Corp DE raised its position in IperionX by 69.0% in the second 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. Finally, Citadel Advisors LLC acquired a new position in IperionX during the third quarter worth $622,000. Hedge funds and other institutional investors 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.