NioCorp Developments Ltd. (NASDAQ:NB) Given Average Recommendation of “Hold” by Brokerages

Shares of NioCorp Developments Ltd. (NASDAQ:NB) have been assigned a consensus recommendation of “Hold” from the five brokerages that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $8.3167.

Several analysts have recently issued reports on NB shares. Zacks Research lowered shares of NioCorp Developments from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 13th. Loop Capital set a $8.70 price target on shares of NioCorp Developments in a research report on Wednesday, January 7th. HC Wainwright raised their price target on shares of NioCorp Developments from $9.50 to $11.25 and gave the company a “buy” rating in a research note on Tuesday, January 13th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of NioCorp Developments in a report on Thursday, January 22nd.

Institutional Trading of NioCorp Developments

Several large investors have recently made changes to their positions in NB. Brevan Howard Capital Management LP purchased a new stake in shares of NioCorp Developments in the third quarter valued at approximately $9,690,000. HITE Hedge Asset Management LLC acquired a new position in NioCorp Developments during the third quarter worth $9,770,000. CreativeOne Wealth LLC boosted its stake in NioCorp Developments by 228.9% during the second quarter. CreativeOne Wealth LLC now owns 98,603 shares of the company’s stock worth $230,000 after buying an additional 68,620 shares during the last quarter. Harfst & Associates Inc. purchased a new stake in NioCorp Developments in the 3rd quarter valued at $700,000. Finally, Police & Firemen s Retirement System of New Jersey purchased a new stake in NioCorp Developments in the 2nd quarter valued at $30,000. 4.03% of the stock is currently owned by hedge funds and other institutional investors.

NioCorp Developments Trading Up 6.4%

Shares of NB opened at $4.46 on Wednesday. The firm has a market cap of $636.58 million, a P/E ratio of -5.51 and a beta of -0.12. NioCorp Developments has a 12 month low of $1.83 and a 12 month high of $12.58. The stock’s 50 day moving average is $5.55 and its two-hundred day moving average is $6.30.

NioCorp Developments (NASDAQ:NB) last announced its earnings results on Friday, February 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.88) by $0.84. Equities research analysts forecast that NioCorp Developments will post -0.34 EPS for the current 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.