IperionX: Transition to Commercial-Scale Titanium Production Underpins Capacity-Driven Growth and Buy Rating

William Blair analyst Neal Dingmann has maintained their bullish stance on IPX stock, giving a Buy rating on January 20.

Neal Dingmann has given his Buy rating due to a combination of factors tied to IperionX’s accelerating shift into commercial-scale titanium production. The company has fully commissioned its titanium powder and component manufacturing lines at its Virginia campus, positioning it to reliably supply a wide range of titanium parts—from standard fasteners to more complex components—for defense, electronics, automotive, industrial, and other end markets. This transition from a development-focused model to repeatable commercial output is supported by quality certifications and inventory build-out for broader distribution, which together strengthen the company’s revenue visibility. In addition, the recent order from American Rheinmetall, which Dingmann views as having meaningful expansion potential, underscores growing customer validation of IperionX’s capabilities and provides an important anchor for future demand.
IperionX is also investing in new facilities and technologies that Dingmann believes can materially enhance its long-term growth and cost position. The Halifax County site is being developed around the company’s continuous titanium production technologies (HAMR and HSPT), which have demonstrated substantial cost advantages over traditional batch processing at the R&D stage and are now advancing through pilot-scale validation. With a clear roadmap to 1,400 metric tons per annum of capacity by 2027 and an ambitious target of 10,000 metric tons per annum by 2030, Dingmann sees a compelling capacity-driven growth story if demand scales as expected. Ongoing progress on the Titan Definitive Feasibility Study and active government funding discussions further support the investment case, providing additional potential catalysts and reinforcing his conviction in a Buy recommendation.

Dingmann covers the Energy sector, focusing on stocks such as APA, Coterra Energy, and Ovintiv. According to TipRanks, Dingmann has an average return of 0.1% and a 44.44% success rate on recommended stocks.

In another report released on January 20, Roth MKM also reiterated a Buy rating on the stock with a $74.00 price target.