Brevan Howard Capital Management LP Acquires New Stake in NioCorp Developments Ltd. $NB

Brevan Howard Capital Management LP bought a new position in shares of NioCorp Developments Ltd. (NASDAQ:NB) in the 3rd quarter, HoldingsChannel.com reports. The firm bought 1,450,542 shares of the company’s stock, valued at approximately $9,690,000.

A number of other institutional investors have also added to or reduced their stakes in NB. Private Management Group Inc. purchased a new stake in shares of NioCorp Developments in the 2nd quarter valued at about $4,890,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of NioCorp Developments during the second quarter worth about $205,000. HITE Hedge Asset Management LLC purchased a new position in shares of NioCorp Developments during the third quarter worth about $9,770,000. CreativeOne Wealth LLC increased its position in shares of NioCorp Developments by 228.9% in the second quarter. CreativeOne Wealth LLC now owns 98,603 shares of the company’s stock worth $230,000 after purchasing an additional 68,620 shares during the last quarter. Finally, Harfst & Associates Inc. bought a new position in shares of NioCorp Developments in the third quarter worth approximately $700,000. 4.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on NB shares. HC Wainwright lifted their target price on shares of NioCorp Developments from $9.50 to $11.25 and gave the company a “buy” rating in a research report on Tuesday, January 13th. Loop Capital set a $8.70 price target on shares of NioCorp Developments in a report on Wednesday, January 7th. Weiss Ratings restated a “sell (d-)” rating on shares of NioCorp Developments in a research report on Thursday, January 22nd. Finally, Zacks Research raised shares of NioCorp Developments from a “hold” rating to a “strong-buy” rating in a report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $8.32.

NioCorp Developments Trading Down 1.3%

Shares of NASDAQ NB opened at $4.73 on Friday. The stock has a market cap of $675.11 million, a price-to-earnings ratio of -5.84 and a beta of -0.12. NioCorp Developments Ltd. has a 1-year low of $1.67 and a 1-year high of $12.58. The stock’s 50-day moving average is $6.02 and its 200 day moving average is $6.28.

NioCorp Developments (NASDAQ:NB) last issued its earnings results on Friday, February 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.88) by $0.84. On average, analysts forecast that NioCorp Developments Ltd. will post -0.34 EPS for the current fiscal 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.