NioCorp Developments (NASDAQ:NB) Now Covered by B. Riley Financial

Analysts at B. Riley Financial began coverage on shares of NioCorp Developments (NASDAQ:NB) in a research note issued on Tuesday. The brokerage set a “buy” rating and a $12.00 price target on the stock. B. Riley Financial’s price objective indicates a potential upside of 140.48% from the company’s current price.

Several other research analysts have also recently issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of NioCorp Developments in a research note on Tuesday, April 21st. HC Wainwright decreased their price target on NioCorp Developments from $11.25 to $10.00 and set a “buy” rating for the company in a research note on Thursday, April 9th. Finally, Zacks Research cut NioCorp Developments from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, NioCorp Developments currently has an average rating of “Moderate Buy” and a consensus target price of $8.93.

NioCorp Developments Price Performance

Shares of NB opened at $4.99 on Tuesday. The company has a market cap of $726.49 million, a P/E ratio of -7.34 and a beta of 0.22. The stock has a fifty day moving average price of $5.51 and a 200 day moving average price of $5.72. NioCorp Developments has a 12 month low of $2.17 and a 12 month high of $12.58.

NioCorp Developments (NASDAQ:NB) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.02) EPS for the quarter, hitting analysts’ consensus estimates of ($0.02). As a group, research analysts anticipate that NioCorp Developments will post -0.54 earnings per share for the current year.

Institutional Trading of NioCorp Developments

Several institutional investors have recently modified their holdings of NB. Brevan Howard Capital Management LP purchased a new stake in shares of NioCorp Developments during the third quarter valued at $9,690,000. HITE Hedge Asset Management LLC purchased a new stake in shares of NioCorp Developments during the third quarter valued at $9,770,000. Harfst & Associates Inc. lifted its holdings in shares of NioCorp Developments by 76.1% during the fourth quarter. Harfst & Associates Inc. now owns 184,620 shares of the company’s stock valued at $978,000 after purchasing an additional 79,810 shares during the last quarter. Deltroit Asset Management UK LLP purchased a new stake in shares of NioCorp Developments during the fourth quarter valued at $5,677,000. Finally, PFG Advisors purchased a new stake in shares of NioCorp Developments during the third quarter valued at $1,224,000. Institutional investors and hedge funds own 4.03% of the company’s stock.

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.