Harfst & Associates Inc. Invests $700,000 in NioCorp Developments Ltd. $NB

Harfst & Associates Inc. bought a new stake in shares of NioCorp Developments Ltd. (NASDAQ:NB) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 104,810 shares of the company’s stock, valued at approximately $700,000. Harfst & Associates Inc. owned 0.13% of NioCorp Developments as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. CWM LLC lifted its holdings in shares of NioCorp Developments by 15.4% during the third quarter. CWM LLC now owns 8,912 shares of the company’s stock worth $60,000 after buying an additional 1,188 shares during the last quarter. Global Retirement Partners LLC bought a new position in NioCorp Developments during the third quarter worth $31,000. Bank of Montreal Can increased its position in NioCorp Developments by 62.7% during the second quarter. Bank of Montreal Can now owns 17,955 shares of the company’s stock worth $42,000 after acquiring an additional 6,920 shares during the period. KPP Advisory Services LLC acquired a new position in NioCorp Developments during the 2nd quarter valued at $25,000. Finally, ProShare Advisors LLC bought a new stake in NioCorp Developments in the 2nd quarter valued at $25,000. Institutional investors and hedge funds own 4.03% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Loop Capital set a $8.70 price objective on shares of NioCorp Developments in a report on Wednesday. Weiss Ratings reissued a “sell (d-)” rating on shares of NioCorp Developments in a research report on Wednesday, October 8th. HC Wainwright upped their price target on NioCorp Developments from $8.25 to $9.50 and gave the company a “buy” rating in a report on Monday, December 8th. Finally, William Blair assumed coverage on NioCorp Developments in a research report on Monday, October 20th. They issued an “outperform” rating for the company. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $7.73.

NioCorp Developments Stock Up 2.2%

Shares of NB opened at $6.62 on Thursday. The stock has a market cap of $790.16 million, a price-to-earnings ratio of -8.07 and a beta of -0.14. NioCorp Developments Ltd. has a 12 month low of $1.49 and a 12 month high of $12.58. The company has a 50-day moving average price of $6.01 and a two-hundred day moving average price of $5.42.

NioCorp Developments (NASDAQ:NB) last released its quarterly earnings data on Thursday, September 11th. The company reported ($0.19) earnings per share for the quarter. Equities research analysts expect that NioCorp Developments Ltd. will post -0.34 EPS for the current fiscal year.

NioCorp Developments 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.