NioCorp Developments Ltd. (NASDAQ:NB – Get Free Report) has earned an average rating of “Hold” from the five analysts that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $7.90.
Several research firms recently commented on NB. Weiss Ratings reiterated a “sell (d-)” rating on shares of NioCorp Developments in a research report on Tuesday, April 21st. HC Wainwright cut their target price on shares of NioCorp Developments from $11.25 to $10.00 and set a “buy” rating on the stock in a research report on Thursday, April 9th. Finally, Zacks Research downgraded shares of NioCorp Developments from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 19th.
View Our Latest Stock Analysis on NioCorp Developments
NioCorp Developments Trading Down 1.4%
NioCorp Developments (NASDAQ:NB – Get Free Report) last posted its earnings results on Thursday, May 14th. The company reported ($0.02) EPS for the quarter, hitting the consensus estimate of ($0.02). On average, equities analysts forecast that NioCorp Developments will post -0.56 EPS for the current year.
Institutional Investors Weigh In On NioCorp Developments
Hedge funds have recently added to or reduced their stakes in the business. Sound Income Strategies LLC acquired a new stake in NioCorp Developments during the 1st quarter worth approximately $25,000. Russell Investments Group Ltd. acquired a new position in shares of NioCorp Developments in the 3rd quarter worth approximately $40,000. Pittenger & Anderson Inc. lifted its position in shares of NioCorp Developments by 74.6% in the 4th quarter. Pittenger & Anderson Inc. now owns 7,665 shares of the company’s stock worth $41,000 after purchasing an additional 3,275 shares during the period. Maltin Wealth Management Inc. acquired a new position in shares of NioCorp Developments in the 1st quarter worth approximately $45,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of NioCorp Developments in the 2nd quarter worth approximately $46,000. 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.
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