NioCorp Developments Ltd. (NASDAQ:NB) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of NioCorp Developments Ltd. (NASDAQ:NB) have been given a consensus recommendation of “Moderate Buy” by the five brokerages that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $8.3167.

A number of analysts have commented on NB shares. Loop Capital set a $8.70 price objective on shares of NioCorp Developments in a research note on Wednesday, January 7th. William Blair started coverage on shares of NioCorp Developments in a report on Monday, October 20th. They set an “outperform” rating on the stock. Zacks Research upgraded shares of NioCorp Developments from a “hold” rating to a “strong-buy” rating in a research report on Friday. Weiss Ratings reiterated a “sell (d-)” rating on shares of NioCorp Developments in a research report on Thursday, January 22nd. Finally, HC Wainwright boosted their target price on shares of NioCorp Developments from $9.50 to $11.25 and gave the company a “buy” rating in a research note on Tuesday, January 13th.

Institutional Investors Weigh In On NioCorp Developments

Several hedge funds have recently bought and sold shares of NB. CWM LLC grew its position in NioCorp Developments by 15.4% in the third quarter. CWM LLC now owns 8,912 shares of the company’s stock worth $60,000 after acquiring an additional 1,188 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of NioCorp Developments by 31.6% in the 3rd quarter. Legal & General Group Plc now owns 7,584 shares of the company’s stock valued at $51,000 after purchasing an additional 1,822 shares during the last quarter. Pittenger & Anderson Inc. boosted its holdings in NioCorp Developments by 74.6% in the fourth quarter. Pittenger & Anderson Inc. now owns 7,665 shares of the company’s stock worth $41,000 after purchasing an additional 3,275 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in NioCorp Developments by 131.9% in the third quarter. Jones Financial Companies Lllp now owns 7,183 shares of the company’s stock worth $49,000 after purchasing an additional 4,085 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in NioCorp Developments by 17.5% during the third quarter. JPMorgan Chase & Co. now owns 28,831 shares of the company’s stock worth $193,000 after buying an additional 4,298 shares during the last quarter. 4.03% of the stock is owned by hedge funds and other institutional investors.

NioCorp Developments Trading Up 4.9%

Shares of NASDAQ NB opened at $6.26 on Tuesday. NioCorp Developments has a twelve month low of $1.59 and a twelve month high of $12.58. The company has a market capitalization of $769.79 million, a price-to-earnings ratio of -7.73 and a beta of -0.14. The firm has a 50-day moving average of $6.29 and a two-hundred day moving average of $6.05.

NioCorp Developments (NASDAQ:NB) last announced its quarterly earnings data on Friday, February 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.88) by $0.83. As a group, research analysts predict that NioCorp Developments will post -0.34 earnings per share for the current year.

About NioCorp Developments

NioCorp Developments Ltd is a North American critical minerals development company focused on advancing its flagship Elk Creek Critical Minerals Project in southeastern Nebraska. The company’s primary business activity centers on the exploration, evaluation and development of a polymetallic deposit that hosts significant quantities of niobium, scandium and titanium. Through metallurgical testing and prefeasibility studies, NioCorp aims to produce high-purity ferroniobium, high-purity titanium dioxide slag and scandium oxide for industrial, aerospace and clean-energy applications.

At the heart of NioCorp’s operations is the Elk Creek project, where the company holds surface rights and mineral leases across approximately 7,100 acres of land.