NioCorp Developments (NASDAQ:NB) Given New $11.25 Price Target at HC Wainwright

NioCorp Developments (NASDAQ:NB) had its price objective boosted by HC Wainwright from $9.50 to $11.25 in a report issued on Tuesday morning,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

NB has been the subject of a number of other reports. William Blair began coverage on shares of NioCorp Developments in a report on Monday, October 20th. They issued an “outperform” rating for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of NioCorp Developments in a research note on Wednesday, October 8th. Finally, Loop Capital set a $8.70 price objective on NioCorp Developments in a research note on Wednesday, January 7th. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $8.32.

NioCorp Developments Trading Down 3.5%

NB opened at $6.66 on Tuesday. The stock has a market capitalization of $794.94 million, a P/E ratio of -8.12 and a beta of -0.14. The stock has a 50-day moving average price of $5.98 and a 200-day moving average price of $5.55. NioCorp Developments has a 12-month low of $1.49 and a 12-month high of $12.58.

NioCorp Developments (NASDAQ:NB) last announced its quarterly earnings data on Thursday, September 11th. The company reported ($0.19) earnings per share for the quarter. On average, equities research analysts predict that NioCorp Developments will post -0.34 EPS for the current year.

Institutional Investors Weigh In On NioCorp Developments

Several institutional investors have recently added to or reduced their stakes in NB. Private Management Group Inc. purchased a new position in shares of NioCorp Developments during the second quarter valued at approximately $4,890,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in NioCorp Developments in the second quarter worth $205,000. Wealth Enhancement Advisory Services LLC bought a new stake in NioCorp Developments in the second quarter valued at $27,000. CreativeOne Wealth LLC increased its position in NioCorp Developments by 228.9% during the 2nd quarter. CreativeOne Wealth LLC now owns 98,603 shares of the company’s stock valued at $230,000 after purchasing an additional 68,620 shares during the period. Finally, Harfst & Associates Inc. purchased a new position in NioCorp Developments during the 3rd quarter valued at $700,000. Hedge funds and other institutional investors own 4.03% of the company’s stock.

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.