IPERIONX LIMITED (IPX)
Share Price Analysis and Chart

18/02/2025

1

Speculative Buy

$5.90

32.58%

Bell Potter notes IperionX has been awarded up to US$47.1m in grant funding from the US Department of Defence.

The analyst points to US$5m to fund the Titan Critical Minerals project feasibility study and the scale-up of the Virginia Titanium manufacturing campus.

A further US$42.1m in grant funding will be available on further technical progress. The broker believes the US government's ongoing commitment to IperionX is a positive.

Bell Potter maintains a Speculative Buy rating and the target price is raised to $5.90 from $5.25. No change to the broker's earnings forecasts.

FORECAST
Bell Potter forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -6.40 cents.
Bell Potter forecasts a full year FY26 dividend of 0.00 cents and EPS of 10.60 cents.

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17/02/2025

1

Speculative Buy

$6.65

49.44%

IperionX was awarded a contract for up to US$47m as part of a combined investment of up to US$70m between the US government and the company.

The funding will cover feasibility studies for the Titan Critical Mineral project in Tennessee and increasing production capacity at the Titanium Manufacturing Campus in Virginia.

The funding covers 46% of Canaccord Genuity's estimated capex for scale up to 2000tpa from 2026 at the Virginia campus. The broker sees the funding as a material de-risking for IperionX.

No change to Speculative Buy rating and $6.65 target price.

FORECAST
Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -5.00 cents.
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -4.00 cents.