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

NioCorp Developments Ltd. (NASDAQ:NB – Get Free Report) has received an average rating of “Hold” from the six brokerages that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $8.85.

A number of research firms recently weighed in on NB. Jefferies Financial Group started coverage on shares of NioCorp Developments in a report on Wednesday, September 2nd. They issued a “hold” rating and a $4.70 target price on the stock. HC Wainwright reiterated a “buy” rating on shares of NioCorp Developments in a research note on Wednesday, July 15th. Wall Street Zen lowered NioCorp Developments from a “sell” rating to a “strong sell” rating in a report on Saturday. Weiss Ratings reissued a “sell (d-)” rating on shares of NioCorp Developments in a research note on Friday, July 17th. Finally, B. Riley Financial initiated coverage on NioCorp Developments in a report on Tuesday, June 9th. They issued a “buy” rating and a $12.00 target price on the stock.

Get Our Latest Stock Analysis on NB

Institutional Investors Weigh In On NioCorp Developments

A number of institutional investors and hedge funds have recently bought and sold shares of NB. Sound Income Strategies LLC purchased a new position in NioCorp Developments during the 1st quarter worth $25,000. Maltin Wealth Management Inc. bought a new position in shares of NioCorp Developments during the first quarter valued at about $45,000. Ironwood Wealth Management LLC. bought a new position in shares of NioCorp Developments during the first quarter valued at about $49,000. Talon Private Wealth LLC purchased a new position in shares of NioCorp Developments in the 1st quarter worth approximately $53,000. Finally, Brookstone Capital Management bought a new stake in NioCorp Developments during the first quarter worth $56,000. 4.03% of the stock is owned by hedge funds and other institutional investors.

NioCorp Developments Stock Up 0.6%

Shares of NB opened at $3.49 on Wednesday. NioCorp Developments has a 12-month low of $3.40 and a 12-month high of $12.58. The business’s fifty day moving average is $4.25 and its 200 day moving average is $4.85. The stock has a market cap of $508.10 million, a P/E ratio of -6.46 and a beta of 0.25.

NioCorp Developments (NASDAQ:NB – Get Free Report) last announced its quarterly 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. On average, analysts expect that NioCorp Developments will post -0.32 EPS for the current year.

About NioCorp Developments

(Get Free Report)

NioCorp Developments Ltd. (NASDAQ:NB) is a development-stage critical minerals company focused on advancing the Elk Creek Project in southeastern Nebraska. The company is evaluating the development of a domestic source of niobium, scandium and titanium, along with certain rare earth elements, including neodymium, praseodymium, dysprosium and terbium.

The proposed Elk Creek operation is designed to process mineralized material into products that could support industries such as transportation, aerospace, defense, electronics and clean energy.

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Analyst Recommendations for NioCorp Developments (NASDAQ:NB)

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