HC Wainwright Forecasts Strong Price Appreciation for NioCorp Developments (NASDAQ:NB) Stock

NioCorp Developments (NASDAQ:NB) had its target price upped by research analysts at HC Wainwright from $8.25 to $9.50 in a research report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price target points to a potential upside of 42.43% from the stock’s previous close.

NB has been the topic of several other research reports. William Blair assumed coverage on NioCorp Developments in a research note on Monday, October 20th. They set an “outperform” rating on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NioCorp Developments in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, NioCorp Developments currently has a consensus rating of “Moderate Buy” and an average target price of $7.25.

NioCorp Developments Stock Up 0.6%

Shares of NASDAQ:NB opened at $6.67 on Monday. The company’s fifty day moving average is $7.20 and its two-hundred day moving average is $4.96. NioCorp Developments has a 12-month low of $1.36 and a 12-month high of $12.58. The company has a market cap of $796.13 million, a P/E ratio of -8.13 and a beta of -0.16.

NioCorp Developments (NASDAQ:NB) last issued its earnings results on Thursday, September 11th. The company reported ($0.19) EPS for the quarter. Equities research analysts anticipate that NioCorp Developments will post -0.34 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. ProShare Advisors LLC bought a new stake in NioCorp Developments in the second quarter worth $25,000. KPP Advisory Services LLC bought a new stake in shares of NioCorp Developments during the 2nd quarter worth about $25,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of NioCorp Developments during the 2nd quarter valued at about $27,000. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of NioCorp Developments during the 2nd quarter valued at about $30,000. Finally, Global Retirement Partners LLC bought a new position in shares of NioCorp Developments in the 3rd quarter valued at approximately $31,000. Institutional investors and hedge funds own 4.03% of the company’s stock.

NioCorp Developments Company Profile

NioCorp Developments Ltd. engages in the exploration and development of mineral deposits in North America. It owns and develops the Elk Creek niobium/scandium/titanium project that owns one 226.43-acre parcel of land and associated mineral rights, and an additional 40 acres of mineral rights, as well as an optioned land package that covers an area of 1,396 acres located in Johnson County, southeast Nebraska.