Why Is IperionX Stock (IPX) Rising?

IperionX Limited (IPX), a titanium metals company, is drawing attention after it said it will supply titanium parts for a U.S. Army program, a deal investors see as an early win.Claim 50% Off TipRanks PremiumUnlock hedge fund-level data and powerful investing tools for smarter, sharper decisions Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential The company received a $300,000 prototype order from American Rheinmetall, a defense supplier, to make about 700 lightweight titanium components. These parts will be used in U.S. Army heavy ground combat systems. While the order itself is not large, it matters because it shows that IperionX's technology is being used in a real military project. Why the Deal Is Important IperionX will make the parts in the U.S. using recycled titanium, rather than imported material. The company said its process allows it to produce titanium at lower cost and with lower energy use than traditional methods. The timing also helps. Titanium has recently been listed as a critical metal by the U.S. government as it looks to reduce reliance on foreign suppliers. IperionX said it is currently the only domestic producer of commercial-scale primary titanium metal in the U.S., giving it a unique position. The order value is small, but investors are looking ahead. The company said the prototype work could lead to a larger agreement, which is helping lift interest in the stock. CEO Taso Arima said the order shows that IperionX's recycled titanium can be used on important U.S. military platforms. He added that the company is well-placed to support U.S. defense needs with domestic and secure supply. Is IPX Stock a Buy? The stock of IperionX has a consensus Moderate Buy rating among two Wall Street analysts. That rating is based on two unanimous Buy recommendations issued in the last three months. The average IPX price target of $74.00 implies 42.69% upside from current levels.