IPERIONX LIMITED (IPX)
Share Price Analysis and Chart

28/07/2025

1

Speculative Buy

$7.90

31.89%

IperionX has completed a $70m equity placement at $5.00, a -2% discount to the five-day volume weighted average price. Bell Potter explains proceeds will fund long-lead items for expansion at its Titanium Manufacturing Campus in Virginia.

Commissioning of the Phase 1 plant is complete, with initial capacity at 125tpa, and customer interest continues from defence, aerospace, and automotive sectors, highlight the analysts.

Pro forma cash at June 30 stands at circa US$100m, up from US$55m, and capacity guidance for both Phase 1 and Phase 2 is expected in the coming weeks. Phase 2 is likely to increase output to around 1,000tpa, notes the broker.

Bell Potter sees near-term demand underpinned by the US$99m Department of Defense contract, with further commercial developments anticipated as production scales.

The broker raises its target price to $7.90 from $6.25 and maintains a Speculative Buy rating.

FORECAST
Bell Potter forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -5.20 cents.
Bell Potter forecasts a full year FY26 dividend of 0.00 cents and EPS of 9.80 cents.

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05/06/2025

1

Buy

$6.65

11.02%

IperionX ((IPX)) has secured a US Department of Defense supply contract worth up to US$99m over five years. Canaccord retains a Speculative Buy, alongside a target price of $6.65.

Commentary suggests initial work likely focuses on titanium fasteners, with potential to expand into aerospace and forged components.

Customer pipeline exceeds 2.5ktpa across aerospace and defence. Expansion plans due mid-2025, with 10ktpa targeted by 2030.

FORECAST
Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -6.00 cents.
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of minus -4.00 cents.