Wealth Enhancement Advisory Services LLC Invests $27,000 in NioCorp Developments Ltd. $NB

Wealth Enhancement Advisory Services LLC acquired a new position in shares of NioCorp Developments Ltd. (NASDAQ:NB) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 11,305 shares of the company’s stock, valued at approximately $27,000.

Other institutional investors have also made changes to their positions in the company. CreativeOne Wealth LLC increased its position in shares of NioCorp Developments by 76.0% in the first quarter. CreativeOne Wealth LLC now owns 29,983 shares of the company’s stock worth $59,000 after acquiring an additional 12,946 shares in the last quarter. PFG Advisors lifted its stake in shares of NioCorp Developments by 384.2% in the first quarter. PFG Advisors now owns 181,168 shares of the company’s stock worth $357,000 after buying an additional 143,750 shares during the last quarter. Finally, Armistice Capital LLC bought a new position in shares of NioCorp Developments in the first quarter worth about $2,573,000. 4.03% of the stock is owned by hedge funds and other institutional investors.

NioCorp Developments Stock Up 9.0%

Shares of NB stock opened at $11.32 on Tuesday. NioCorp Developments Ltd. has a 12-month low of $1.27 and a 12-month high of $12.58. The firm has a market capitalization of $880.24 million, a price-to-earnings ratio of -33.29 and a beta of -0.18. The firm has a fifty day moving average of $5.63 and a 200-day moving average of $3.67.

NioCorp Developments (NASDAQ:NB) last announced its quarterly earnings results on Friday, July 11th. The company reported ($0.16) earnings per share for the quarter. Research analysts expect that NioCorp Developments Ltd. will post -0.34 earnings per share for the current year.

Analyst Ratings Changes

NB has been the subject of several research analyst reports. Maxim Group upped their target price on shares of NioCorp Developments from $4.00 to $5.00 and gave the company a “buy” rating in a research note on Friday, July 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of NioCorp Developments in a research report on Wednesday, October 8th. Finally, HC Wainwright increased their price objective on shares of NioCorp Developments from $4.00 to $8.25 and gave the stock a “buy” rating in a report on Monday, September 22nd. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, NioCorp Developments currently has an average rating of “Hold” and an average target price of $6.63.

NioCorp Developments Company Profile

NioCorp Developments Ltd. engages in the exploration and development of mineral deposits in North America. It owns and develops the Elk Creek niobium/scandium/titanium project that owns one 226.43-acre parcel of land and associated mineral rights, and an additional 40 acres of mineral rights, as well as an optioned land package that covers an area of 1,396 acres located in Johnson County, southeast Nebraska.