IPERIONX LIMITED (IPX)
Share Price Analysis and Chart

05/06/2026

1

Speculative Buy

$8.25

63.04%

IperionX has the results of the definitive feasibility study for the Titan rare earth project in the US. A 14-year project has been outlined with total development expenditure of $381m.

Phase 1 will be up to 4 years with 3.5mtpa ore feed while phase 2 of 5-14 years will have 10mtpa of ore feed. A heavy rare earth concentrate will be produced. The company can now undertake funding and partnership discussions.

While the metrics are positive, Bell Potter assesses the project is peripheral to the company's titanium recycling and manufacturing focus and remains as an option. Speculative Buy rating unchanged along with the $8.25 target.

FORECAST
Bell Potter forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -19.30 cents.
Bell Potter forecasts a full year FY27 dividend of 0.00 cents and EPS of minus -6.30 cents.

05/06/2026

1

Speculative Buy

$8.90

75.89%

Canaccord Genuity maintains a Speculative Buy rating for IperionX with a $8.90 target price following a first look at the definitive feasibility study for the Titan mineral sands project.

The study details a capital efficient two-stage development pathway with stage one and stage two capital expenditure estimated at US$228m and US$153m respectively.

Canaccord Genuity finds developing the asset provides critical feedstock optionality to protect future titanium metal processing margins against raw scrap market volatility.

The underlying view is that highly strategic heavy rare earth byproduct streams grading 480ppm total rare earth oxides enhance project appeal amid robust global demand for ex-China sourcing networks.

Preliminary timetables schedule commercial construction commencement for January 2027, with stage one commissioning targeted for June 2028.