Analysts Set NioCorp Developments Ltd. (NASDAQ:NB) PT at $8.32

Shares of NioCorp Developments Ltd. (NASDAQ:NB) have received an average recommendation of “Moderate Buy” from the five ratings firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $8.3167.

Several analysts have issued reports on NB shares. Weiss Ratings restated a “sell (d-)” rating on shares of NioCorp Developments in a research report on Thursday, January 22nd. Loop Capital set a $8.70 target price on NioCorp Developments in a research note on Wednesday, January 7th. Zacks Research upgraded NioCorp Developments from a “hold” rating to a “strong-buy” rating in a report on Friday, February 6th. HC Wainwright raised their price target on NioCorp Developments from $9.50 to $11.25 and gave the stock a “buy” rating in a research report on Tuesday, January 13th. Finally, William Blair started coverage on NioCorp Developments in a research report on Monday, October 20th. They issued an “outperform” rating for the company.

NioCorp Developments Trading Down 7.7%

Shares of NASDAQ NB opened at $5.60 on Tuesday. The stock has a market cap of $688.63 million, a price-to-earnings ratio of -6.91 and a beta of -0.14. NioCorp Developments has a 1-year low of $1.59 and a 1-year high of $12.58. The stock’s 50-day moving average is $6.26 and its 200 day moving average is $6.07.

NioCorp Developments (NASDAQ:NB) last issued its earnings results 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. On average, analysts forecast that NioCorp Developments will post -0.34 EPS for the current fiscal year.

Institutional Investors Weigh In On NioCorp Developments

A number of large investors have recently added to or reduced their stakes in the company. ProShare Advisors LLC bought a new position in shares of NioCorp Developments during the second quarter valued at about $25,000. KPP Advisory Services LLC bought a new stake in shares of NioCorp Developments in the second quarter worth about $25,000. Wealth Enhancement Advisory Services LLC purchased a new position in NioCorp Developments during the 2nd quarter valued at about $27,000. Police & Firemen s Retirement System of New Jersey bought a new position in NioCorp Developments during the 2nd quarter valued at approximately $30,000. Finally, Global Retirement Partners LLC bought a new position in NioCorp Developments during the 3rd quarter valued at approximately $31,000. 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.