NioCorp Developments (NASDAQ:NB) Given New $10.00 Price Target at HC Wainwright

NioCorp Developments (NASDAQ:NB) had its price target lowered by HC Wainwright from $11.25 to $10.00 in a report published on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities analysts have also commented on NB. Loop Capital set a $8.70 price target on shares of NioCorp Developments in a research note on Wednesday, January 7th. Zacks Research lowered shares of NioCorp Developments from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 13th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of NioCorp Developments in a research note on Thursday, January 22nd. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $7.90.

NioCorp Developments Stock Up 1.6%

Shares of NioCorp Developments stock opened at $4.96 on Thursday. The firm has a market capitalization of $707.94 million, a P/E ratio of -6.12 and a beta of -0.03. NioCorp Developments has a 52 week low of $1.89 and a 52 week high of $12.58. The firm’s 50 day moving average is $5.23 and its two-hundred day moving average is $6.24.

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

Institutional Investors Weigh In On NioCorp Developments

Several large investors have recently modified their holdings of the company. Rockefeller Capital Management L.P. boosted its holdings in shares of NioCorp Developments by 1,073.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 99,762 shares of the company’s stock valued at $529,000 after acquiring an additional 91,262 shares during the period. Virtu Financial LLC boosted its holdings in shares of NioCorp Developments by 324.0% in the fourth quarter. Virtu Financial LLC now owns 84,133 shares of the company’s stock valued at $446,000 after acquiring an additional 64,290 shares during the period. Blue Capital Inc. acquired a new stake in shares of NioCorp Developments in the fourth quarter valued at approximately $146,000. Invesco Ltd. boosted its holdings in shares of NioCorp Developments by 127.2% in the fourth quarter. Invesco Ltd. now owns 65,295 shares of the company’s stock valued at $346,000 after acquiring an additional 36,555 shares during the period. Finally, EP Wealth Advisors LLC acquired a new stake in shares of NioCorp Developments during the fourth quarter worth $114,000. 4.03% of the stock is owned by institutional investors and hedge funds.

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.