NioCorp Developments Ltd. (NASDAQ:NB) Receives $8.93 Average Price Target from Brokerages

Shares of NioCorp Developments Ltd. (NASDAQ:NB) have earned a consensus recommendation of “Moderate Buy” from the six analysts that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $8.9250.

A number of research analysts have commented on NB shares. HC Wainwright decreased their price objective on NioCorp Developments from $11.25 to $10.00 and set a “buy” rating on the stock in a research report on Thursday, April 9th. B. Riley Financial started coverage on NioCorp Developments in a research report on Tuesday, June 9th. They issued a “buy” rating and a $12.00 price objective on the stock. Zacks Research lowered NioCorp Developments from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 19th. Wall Street Zen upgraded NioCorp Developments from a “sell” rating to a “hold” rating in a research report on Saturday, June 13th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of NioCorp Developments in a research report on Tuesday, April 21st.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sound Income Strategies LLC bought a new position in shares of NioCorp Developments in the 1st quarter worth $25,000. Russell Investments Group Ltd. bought a new position in shares of NioCorp Developments in the 3rd quarter worth $40,000. Jones Financial Companies Lllp boosted its position in shares of NioCorp Developments by 131.9% in the 3rd 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 during the last quarter. Legal & General Group Plc boosted its position 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 worth $51,000 after purchasing an additional 1,822 shares during the last quarter. Finally, Pittenger & Anderson Inc. boosted its position in shares of NioCorp Developments by 74.6% in the 4th quarter. Pittenger & Anderson Inc. now owns 7,665 shares of the company’s stock worth $41,000 after purchasing an additional 3,275 shares during the last quarter. 4.03% of the stock is currently owned by institutional investors.

NioCorp Developments Price Performance

NB stock opened at $5.31 on Monday. The business has a fifty day moving average price of $5.62 and a 200 day moving average price of $5.69. NioCorp Developments has a fifty-two week low of $2.17 and a fifty-two week high of $12.58. The stock has a market capitalization of $773.08 million, a price-to-earnings ratio of -7.81 and a beta of 0.22.

NioCorp Developments (NASDAQ:NB) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.02) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.02). On average, equities analysts expect that NioCorp Developments will post -0.48 earnings per share for the current fiscal year.

NioCorp Developments Company Profile

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.