Harfst & Associates Inc. Buys 79,810 Shares of NioCorp Developments Ltd. $NB

Harfst & Associates Inc. increased its stake in shares of NioCorp Developments Ltd. (NASDAQ:NB) by 76.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 184,620 shares of the company’s stock after purchasing an additional 79,810 shares during the quarter. Harfst & Associates Inc. owned about 0.15% of NioCorp Developments worth $978,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NB. Russell Investments Group Ltd. bought a new position in NioCorp Developments in the third quarter valued at approximately $40,000. Pittenger & Anderson Inc. boosted its stake in NioCorp Developments by 74.6% in the fourth quarter. Pittenger & Anderson Inc. now owns 7,665 shares of the company’s stock valued at $41,000 after acquiring an additional 3,275 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in NioCorp Developments in the second quarter valued at approximately $46,000. Jones Financial Companies Lllp boosted its stake in NioCorp Developments by 131.9% in the third quarter. Jones Financial Companies Lllp now owns 7,183 shares of the company’s stock valued at $49,000 after acquiring an additional 4,085 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in NioCorp Developments by 31.6% in the third quarter. Legal & General Group Plc now owns 7,584 shares of the company’s stock valued at $51,000 after acquiring an additional 1,822 shares during the last quarter. 4.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NioCorp Developments in a research note on Tuesday, April 21st. Zacks Research cut shares of NioCorp Developments from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. Finally, HC Wainwright reduced their price objective on shares of NioCorp Developments from $11.25 to $10.00 and set a “buy” rating on the stock in a research note on Thursday, April 9th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $7.90.

NioCorp Developments Stock Up 2.8%

Shares of NASDAQ NB opened at $6.30 on Wednesday. The company’s fifty day moving average is $5.41 and its 200-day moving average is $5.73. The stock has a market cap of $917.22 million, a price-to-earnings ratio of -9.26 and a beta of 0.21. NioCorp Developments Ltd. has a twelve month low of $2.17 and a twelve month high of $12.58.

NioCorp Developments (NASDAQ:NB) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.02) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.02). On average, research analysts anticipate that NioCorp Developments Ltd. will post -0.56 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.