IPERIONX LIMITED (IPX)
Share Price Analysis and Chart

29/07/2024

1

Speculative Buy

$3.85

41.54%

In August, Iperionx will commence the first full-scale titanium deoxidation production run at the new Titanium Production Facility in Virginia, highlights Bell Potter.

This production should help de-risk the company's proprietary Hydrogen Assisted Metallothermic Reduction process to initial commercial rates of 125tpa, from a circa 1.5tpa industrial-scale pilot facility, explains the broker.

Bell Potter notes Iperionx has potential to disrupt the incumbent titanium supply chain through materially lowering production costs and manufacturing waste.

The Speculative Buy rating and $3.85 target are maintained.

FORECAST
Bell Potter forecasts a full year FY24 dividend of 0.00 cents and EPS of minus -11.40 cents.
Bell Potter forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -13.20 cents.

27/05/2024

1

Speculative Buy

$3.60

32.35%

Speculative Buy rating retained for IperionX with an unchanged price target of $3.60. Canaccord Genuity notes the company's recent equity raise of US$33m supports its Phase 1 capex and working capital requirements.

A site visit has increased confidence in the technical and operational parameters of the HAMR process, which is expected to commence production in the final quarter of the year.

Revenue and cost forecasts for 2024 have been slightly revised, with the FY24 net income forecast improved to -US$5.7m from -US$5.8m. The results matched expectations, and the broker believes the outlook remains positive with significant potential for scale-up and valuation upside.

FORECAST
Canaccord Genuity forecasts a full year FY24 dividend of 0.00 cents and EPS of minus -3.00 cents.
Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -2.00 cents.