NioCorp Developments Ltd. (NASDAQ:NB) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of NioCorp Developments Ltd. (NASDAQ:NB) have earned a consensus recommendation of “Moderate Buy” from the six analysts that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $8.9250.

Several research analysts have recently commented on the company. HC Wainwright decreased their price objective on NioCorp Developments from $11.25 to $10.00 and set a “buy” rating on the stock in a report on Thursday, April 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of NioCorp Developments in a report on Tuesday, April 21st. B. Riley Financial assumed coverage on NioCorp Developments in a report on Tuesday, June 9th. They issued a “buy” rating and a $12.00 price objective on the stock. Zacks Research downgraded NioCorp Developments from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 19th. Finally, Wall Street Zen upgraded NioCorp Developments from a “sell” rating to a “hold” rating in a report on Saturday.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Geode Capital Management LLC increased its holdings in NioCorp Developments by 2,376.5% during the 2nd quarter. Geode Capital Management LLC now owns 644,182 shares of the company’s stock valued at $1,501,000 after purchasing an additional 618,170 shares during the period. Creative Planning purchased a new position in NioCorp Developments during the 2nd quarter valued at about $57,000. JPMorgan Chase & Co. increased its holdings in NioCorp Developments by 48,003.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 24,533 shares of the company’s stock valued at $57,000 after purchasing an additional 24,482 shares during the period. XTX Topco Ltd purchased a new position in NioCorp Developments during the 2nd quarter valued at about $75,000. Finally, New York State Common Retirement Fund purchased a new position in NioCorp Developments during the 2nd quarter valued at about $85,000. Hedge funds and other institutional investors own 4.03% of the company’s stock.

NioCorp Developments Price Performance

Shares of NB stock opened at $5.40 on Monday. The business has a 50-day moving average price of $5.57 and a two-hundred day moving average price of $5.71. NioCorp Developments has a 12-month low of $2.17 and a 12-month high of $12.58. The firm has a market cap of $786.19 million, a P/E ratio of -7.94 and a beta of 0.22.

NioCorp Developments (NASDAQ:NB) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.02) EPS for the quarter, hitting the consensus estimate of ($0.02). As a group, research analysts expect that NioCorp Developments will post -0.48 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.