Insider Buying: IperionX (NASDAQ:IPX) Chairman Buys $1,092,000.00 in Stock

IperionX Limited Sponsored ADR (NASDAQ:IPX) Chairman Todd Hannigan acquired 260,000 shares of IperionX stock in a transaction that occurred on Wednesday, April 29th. The stock was acquired at an average cost of $4.20 per share, for a total transaction of $1,092,000.00. Following the purchase, the chairman owned 26,108,334 shares of the company’s stock, valued at $109,655,002.80. The trade was a 1.01% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Todd Hannigan also recently made the following trade(s):

• On Tuesday, April 28th, Todd Hannigan acquired 220,000 shares of IperionX stock. The stock was acquired at an average cost of $4.48 per share, for a total transaction of $985,600.00.

IperionX Stock Performance

Shares of IperionX stock opened at $33.46 on Friday. 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 Limited Sponsored ADR has a twelve month low of $19.43 and a twelve month high of $61.45. The company’s fifty day moving average is $34.31 and its 200 day moving average is $39.08.

IperionX (NASDAQ:IPX) last issued its quarterly earnings data on Saturday, January 31st. The company reported ($0.50) earnings per share for the quarter. On average, sell-side analysts predict that IperionX Limited Sponsored ADR will post -0.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IperionX

A number of large investors have recently modified their holdings of the company. Van ECK Associates Corp lifted its holdings in shares of IperionX by 61.0% in the 4th 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 in the last quarter. Jane Street Group LLC lifted 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 worth $4,669,000 after purchasing an additional 49,645 shares in the last quarter. Millennium Management LLC bought a new position in shares of IperionX in the 4th quarter worth $4,249,000. Private Advisor Group LLC lifted its holdings in shares of IperionX by 69.9% in the 1st quarter. Private Advisor Group LLC now owns 63,111 shares of the company’s stock worth $1,643,000 after purchasing an additional 25,964 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of IperionX by 69.0% in the 2nd quarter. Bank of America Corp DE now owns 35,441 shares of the company’s stock worth $1,116,000 after purchasing an additional 14,467 shares in the last quarter. 2.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on IPX. BTIG Research began coverage on IperionX in a report on Friday, March 27th. They issued a “buy” rating and a $40.00 target price on the stock. Roth Mkm reiterated a “buy” rating and issued a $74.00 target price on shares of IperionX in a report on Tuesday, January 20th. B. Riley Financial reduced their target price on IperionX from $58.00 to $52.00 and set a “buy” rating on the stock in a report on Friday, March 13th. Alliance Global Partners reaffirmed a “buy” rating on shares of IperionX in a research report on Tuesday. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of IperionX in a research report on Tuesday, April 21st. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $55.33.

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.