NioCorp Developments Ltd. (NASDAQ:NB) Receives $8.32 Consensus PT from Analysts

NioCorp Developments Ltd. (NASDAQ:NB) has been given an average recommendation of “Hold” by the five brokerages that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $8.3167.

NB has been the topic of several research reports. Weiss Ratings restated a “sell (d-)” rating on shares of NioCorp Developments in a report on Thursday, January 22nd. Zacks Research cut shares of NioCorp Developments from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 13th. HC Wainwright lifted their target price 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, Loop Capital set a $8.70 price target on NioCorp Developments in a research note on Wednesday, January 7th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NB. Global Retirement Partners LLC bought a new position in NioCorp Developments in the third quarter worth $31,000. Russell Investments Group Ltd. bought a new stake in NioCorp Developments in the 3rd quarter valued at $40,000. Jones Financial Companies Lllp raised its stake in shares of NioCorp Developments by 131.9% in the 3rd quarter. Jones Financial Companies Lllp now owns 7,183 shares of the company’s stock valued at $49,000 after buying an additional 4,085 shares in the last quarter. Legal & General Group Plc raised its stake in shares of NioCorp Developments by 31.6% in the 3rd quarter. Legal & General Group Plc now owns 7,584 shares of the company’s stock valued at $51,000 after buying an additional 1,822 shares in the last quarter. Finally, Pittenger & Anderson Inc. lifted its holdings in shares of NioCorp Developments by 74.6% during the 4th quarter. Pittenger & Anderson Inc. now owns 7,665 shares of the company’s stock worth $41,000 after acquiring an additional 3,275 shares during the period. 4.03% of the stock is currently owned by institutional investors and hedge funds.

NioCorp Developments Stock Performance

NB opened at $4.63 on Wednesday. The business has a 50 day moving average of $5.40 and a 200-day moving average of $6.27. The stock has a market capitalization of $660.84 million, a price-to-earnings ratio of -5.72 and a beta of -0.03. NioCorp Developments has a 1-year low of $1.83 and a 1-year high of $12.58.

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, topping analysts’ consensus estimates of ($0.88) by $0.84. Equities analysts predict that NioCorp Developments will post -0.34 EPS for the current year.

About NioCorp Developments

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.