NioCorp Developments Ltd. (NASDAQ:NB) Receives Average Rating of “Moderate Buy” from Analysts

Shares of NioCorp Developments Ltd. (NASDAQ:NB) have earned an average recommendation of “Moderate Buy” from the five ratings firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $8.3167.

A number of research analysts recently issued reports on NB shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of NioCorp Developments in a research note on Thursday, January 22nd. Loop Capital set a $8.70 price target on shares of NioCorp Developments in a report on Wednesday, January 7th. HC Wainwright lifted their price objective on NioCorp Developments from $9.50 to $11.25 and gave the stock a “buy” rating in a research note on Tuesday, January 13th. Zacks Research raised NioCorp Developments from a “hold” rating to a “strong-buy” rating in a research report on Friday. Finally, William Blair started coverage on NioCorp Developments in a report on Monday, October 20th. They issued an “outperform” rating on the stock.

NioCorp Developments Stock Performance

Shares of NB stock opened at $6.26 on Tuesday. The stock’s 50 day simple moving average is $6.29 and its 200 day simple moving average is $6.05. NioCorp Developments has a twelve month low of $1.59 and a twelve month high of $12.58. The company has a market capitalization of $769.79 million, a price-to-earnings ratio of -7.73 and a beta of -0.14.

NioCorp Developments (NASDAQ:NB) last announced its quarterly earnings results on Friday, February 6th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.88) by $0.83. On average, analysts forecast that NioCorp Developments will post -0.34 EPS for the current fiscal year.

Hedge Funds Weigh In On NioCorp Developments

Large investors have recently bought and sold shares of the stock. ProShare Advisors LLC bought a new position in NioCorp Developments during the second quarter worth about $25,000. KPP Advisory Services LLC acquired a new position in shares of NioCorp Developments in the 2nd quarter worth approximately $25,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of NioCorp Developments during the 2nd quarter worth approximately $27,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in NioCorp Developments in the 2nd quarter valued at $30,000. Finally, Global Retirement Partners LLC bought a new stake in NioCorp Developments in the third quarter valued at $31,000. 4.03% of the stock is currently owned by institutional investors and hedge funds.

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.