# IperionX Limited (IPX)

> Source: Nexqual · https://nexqual.com/IPX · data as of 2026-11-09 21:00 UTC · cite as "Nexqual, IperionX Limited (IPX), nexqual.com/IPX" · informational, not investment advice.

## What changed for IPX since Aug 31, 2025
The built-in knowledge of several widely used AI models ends around Aug 31, 2025. Everything below is newer, dated and sourced (as of Nov 9, 2026).

- IperionX Limited (IPX) stock went from USD 44.32 (close of the week of Aug 25, 2025, split-adjusted) to USD 16.54, a -62.7% price change; the S&P 500 (SPY) moved +18.3% over the same period.
- Analyst actions on IPX in the last 120 days: 2 (0 upgrades or target raises, 1 downgrades or target cuts); most recent B. Riley Securities, Sep 30, 2026.

**Price:** USD 16.54 (+17.30% on the day) · last close of Nov 9, 2026; US market pre market, not a live price. Prev close 14.1 · day 14.96–16.83 · 52w 12.14–61.45 · market cap $599M · NCM

## Key facts
- Insider open-market purchases, last ~7 months: 4 Form 4 filings, $4.9M; 0 by opportunistic insiders, 0 by routine insiders.
- Analysts: Buy (mean 2.00 on a 1–5 scale) (6 analysts), mean target USD 40.2 (range 26–55).
- Total return with dividends: 1Y -56.5% vs S&P 500 +11.7%; 5Y +171.7% vs S&P 500 +72.2%.
- Dividend: IPX paid no cash dividend in the last five years.
- Short interest: 4.63% of float (as of 2026-10-15), 3.8 days to cover.

## Insider purchases (SEC Form 4, open-market, last ~7 months)
4 purchases, $4.9M. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-07-10…2026-07-13 | Hannigan Todd | Executive Chairman | 525,000 | $1.9M | 3.58 | Too little history (no open-market trades in 2023–2025) |
| 2026-07-10 | Arima Anastasios | Chief Executive Officer | 138,720 | $497K | 3.58 | Too little history (no open-market trades in 2023–2025) |
| 2026-04-28…2026-04-29 | Hannigan Todd | Executive Chairman | 480,000 | $2.1M | 4.33 | Too little history (no open-market trades in 2023–2025) |
| 2026-04-28 | Arima Anastasios | Chief Executive Officer | 110,000 | $494K | 4.49 | Too little history (no open-market trades in 2023–2025) |
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 2.00 on a 1–5 scale), 6 analysts; mean target USD 40.2 (low 26, high 55).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-30 | B. Riley Securities | Target lowered | Buy | $52 → $34 |
| 2026-09-02 | Jefferies | Initiated | Buy | $26 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-11-10) | 5Y (from 2022-06-20) |
|---|---|---|
| Total return | -56.5% | +171.7% |
| S&P 500 (SPY) | +11.7% | +72.2% |
| Per year | -56.6% | +25.6% |
| Volatility (annualized) | 86.6% | 75.7% |
| Max drawdown | -79.3% (Jan 2026→Oct 2026) | -79.3% (Jan 2026→Oct 2026) |

## Dividends
IPX paid no cash dividend in the last five years.

## Short interest
1,445,771 shares sold short, 4.63% of the float, as of Oct 15, 2026 (exchange short-interest report, published about twice a month). Prior report (Sep 15, 2026): 916,942 shares (+57.7%). Days to cover: 3.8 (short shares ÷ average daily volume).

## Peers (Other Industrial Metals & Mining)
NEXA (Nexa Resources S.A.) USD 12.04 +5.61% · SSMR (Sunshine Silver Mining & Refini) USD 14.8 +11.53% · ALM (Almonty Industries Inc.) USD 8.78 +8.07% · USAR (USA Rare Earth, Inc.) USD 8.76 +6.50% · SKE (Skeena Resources Limited) USD 32.71 +5.75% · MTRN (Materion Corporation) USD 202.14 +8.61%

## More
Full page: https://nexqual.com/IPX · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in IPX's own 20-F filed 2026-09-29 (https://www.sec.gov/Archives/edgar/data/1898601/000189860126000030/ipx-20260630.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Customer | Ford (F) | "Programs with Ford and consumer-electronics customers demonstrate the flexibility of the platform to supply both titanium powder and manufactured components." |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | — | — | — | $0 | — |
| Next quarter (ends 2026-12-31) | — | — | — | $0 | — |
| Current fiscal year (ends 2027-06-30) | — | — | — | $7.9M | — |
| Next fiscal year (ends 2028-06-30) | $1.53 | $0.25 | +512.0% | $103.2M | 1 |

## Options: expected move (Cboe, 15-min delayed)

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 10 | 100.4% | ±14.8% |
| 2026-12-18 | 38 | 85.8% | ±23.2% |
| 2027-01-15 | 66 | 77.5% | ±27.2% |
| 2027-04-16 | 157 | 71.8% | ±37.2% |

## Recent SEC filings (last 120 days)
| Filed | Form | What it says | Filing |
|---|---|---|---|
| 2026-10-29 | 6-K | Current report (foreign issuer) · period ended Oct 29, 2026 | https://www.sec.gov/Archives/edgar/data/1898601/000114036126041117/0001140361-26-041117-index.htm |
| 2026-10-15 | 6-K | Current report (foreign issuer) · period ended Oct 15, 2026 | https://www.sec.gov/Archives/edgar/data/1898601/000114036126039671/0001140361-26-039671-index.htm |
| 2026-09-29 | 20-F | Annual report (foreign issuer) · period ended Jun 30, 2026 | https://www.sec.gov/Archives/edgar/data/1898601/000189860126000030/0001898601-26-000030-index.htm |
| 2026-09-29 | 6-K | Current report (foreign issuer) · period ended Sep 29, 2026 | https://www.sec.gov/Archives/edgar/data/1898601/000114036126037886/0001140361-26-037886-index.htm |
| 2026-09-16 | 6-K | Current report (foreign issuer) · period ended Sep 16, 2026 | https://www.sec.gov/Archives/edgar/data/1898601/000114036126036725/0001140361-26-036725-index.htm |
| 2026-08-31 | 6-K | Current report (foreign issuer) · period ended Aug 31, 2026 | https://www.sec.gov/Archives/edgar/data/1898601/000114036126034918/0001140361-26-034918-index.htm |
| 2026-08-03 | 6-K | Current report (foreign issuer) · period ended Aug 3, 2026 | https://www.sec.gov/Archives/edgar/data/1898601/000114036126030542/0001140361-26-030542-index.htm |
| 2026-07-30 | 6-K | Current report (foreign issuer) · period ended Jul 30, 2026 | https://www.sec.gov/Archives/edgar/data/1898601/000114036126030117/0001140361-26-030117-index.htm |
Source: SEC EDGAR. Quotes are the opening words of each item as filed.