NioCorp Developments (NASDAQ:NB) Stock Rating Upgraded by Zacks Research

NioCorp Developments (NASDAQ:NB) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Wednesday, Zacks reports.

Other equities analysts have also recently issued reports about the company. Wall Street Zen upgraded NioCorp Developments from a “strong sell” rating to a “sell” rating in a report on Saturday, October 10th. HC Wainwright reaffirmed a “buy” rating on shares of NioCorp Developments in a report on Wednesday, July 15th. Jefferies Financial Group began coverage on NioCorp Developments in a research report on Wednesday, September 2nd. They issued a “hold” rating and a $4.70 price target for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of NioCorp Developments in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.85.

NioCorp Developments Stock Performance

NioCorp Developments stock opened at $3.26 on Wednesday. The firm has a market cap of $474.62 million, a price-to-earnings ratio of -6.04 and a beta of 0.28. NioCorp Developments has a 1 year low of $3.03 and a 1 year high of $9.98. The firm’s 50 day moving average price is $4.00 and its two-hundred day moving average price is $4.74.

NioCorp Developments (NASDAQ:NB) last announced its quarterly earnings data on Friday, September 25th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02. As a group, equities analysts predict that NioCorp Developments will post -0.28 EPS for the current fiscal year.

Hedge Funds Weigh In On NioCorp Developments

Several institutional investors and hedge funds have recently modified their holdings of the stock. 4WEALTH Advisors Inc. raised its holdings in shares of NioCorp Developments by 29.3% during the third quarter. 4WEALTH Advisors Inc. now owns 90,155 shares of the company’s stock worth $315,000 after acquiring an additional 20,405 shares in the last quarter. GK Wealth Management LLC purchased a new position in NioCorp Developments in the third quarter valued at about $28,000. Farther Finance Advisors LLC grew its stake in NioCorp Developments by 48.4% in the third quarter. Farther Finance Advisors LLC now owns 38,140 shares of the company’s stock valued at $137,000 after purchasing an additional 12,434 shares in the last quarter. Gratia Capital LLC purchased a new position in NioCorp Developments in the second quarter valued at about $1,976,000. Finally, Blue Capital Inc. acquired a new position in NioCorp Developments in the 2nd quarter worth about $127,000. 4.03% of the stock is currently owned by hedge funds and other institutional investors.

About NioCorp Developments

NioCorp Developments Ltd. is a U.S.-focused critical minerals company advancing the Elk Creek Critical Minerals Project in southeast Nebraska. The project is designed to produce niobium, scandium and titanium, with the potential to recover several rare earth elements, including neodymium, praseodymium, terbium and dysprosium.

NioCorp’s planned products are intended for use in applications such as high-strength steel, aerospace and defense systems, electric vehicles, permanent magnets, and other advanced technologies.