NioCorp Developments Ltd. (NASDAQ:NB) Stock Has Consensus Price Target of $8.85

Shares of NioCorp Developments Ltd. (NASDAQ:NB) have received a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $8.85.

NB has been the subject of several research analyst reports. Zacks Research raised shares of NioCorp Developments from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NioCorp Developments in a report on Thursday. HC Wainwright reiterated a “buy” rating on shares of NioCorp Developments in a report on Wednesday, July 15th. Wall Street Zen raised NioCorp Developments from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 10th. Finally, Jefferies Financial Group began coverage on NioCorp Developments in a report on Wednesday, September 2nd. They set a “hold” rating and a $4.70 price target for the company.

Institutional Investors Weigh In On NioCorp Developments

Large investors have recently added to or reduced their stakes in the business. Vontobel Holding Ltd. raised its stake in shares of NioCorp Developments by 102.4% in the third quarter. Vontobel Holding Ltd. now owns 45,864 shares of the company’s stock valued at $165,000 after acquiring an additional 23,200 shares in the last quarter. 4WEALTH Advisors Inc. grew its stake in NioCorp Developments by 29.3% during the 3rd quarter. 4WEALTH Advisors Inc. now owns 90,155 shares of the company’s stock worth $315,000 after purchasing an additional 20,405 shares in the last quarter. GK Wealth Management LLC acquired a new position in NioCorp Developments during the 3rd quarter worth $28,000. Farther Finance Advisors LLC grew its position in shares of NioCorp Developments by 48.4% during the third quarter. Farther Finance Advisors LLC now owns 38,140 shares of the company’s stock worth $137,000 after buying an additional 12,434 shares in the last quarter. Finally, Gratia Capital LLC acquired a new stake in NioCorp Developments in the second quarter valued at approximately $1,976,000. 4.03% of the stock is owned by hedge funds and other institutional investors.

NioCorp Developments Trading Down 4.0%

NASDAQ:NB opened at $3.13 on Friday. The company has a market cap of $455.69 million, a price-to-earnings ratio of -5.80 and a beta of 0.28. NioCorp Developments has a twelve month low of $3.03 and a twelve month high of $9.80. The stock has a fifty day simple moving average of $3.96 and a 200-day simple moving average of $4.73.

NioCorp Developments (NASDAQ:NB) last posted its earnings results on Friday, September 25th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02. As a group, equities research analysts predict that NioCorp Developments will post -0.28 EPS for the current fiscal year.

About NioCorp Developments

NioCorp Developments Ltd. is a U.S.-focused critical minerals company advancing the Elk Creek Critical Minerals Project in southeast Nebraska. The project is designed to produce niobium, scandium and titanium, with the potential to recover several rare earth elements, including neodymium, praseodymium, terbium and dysprosium.

NioCorp’s planned products are intended for use in applications such as high-strength steel, aerospace and defense systems, electric vehicles, permanent magnets, and other advanced technologies.