NioCorp Developments (NB) Projected to Post Quarterly Earnings on Friday

NioCorp Developments (NASDAQ:NB) is projected to release its results before the market opens on Friday, February 6th. Analysts expect NioCorp Developments to post earnings of ($0.88) per share for the quarter.

NioCorp Developments (NASDAQ:NB) last posted its earnings results on Thursday, September 11th. The company reported ($0.19) EPS for the quarter. On average, analysts expect NioCorp Developments to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

NioCorp Developments Price Performance

Shares of NB stock opened at $6.45 on Friday. The stock’s fifty day simple moving average is $6.21 and its 200 day simple moving average is $5.88. NioCorp Developments has a one year low of $1.59 and a one year high of $12.58. The firm has a market cap of $769.87 million, a price-to-earnings ratio of -7.87 and a beta of -0.14.

Institutional Trading of NioCorp Developments

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. bought a new position in NioCorp Developments in the 3rd quarter valued at $40,000. The Manufacturers Life Insurance Company bought a new stake in shares of NioCorp Developments during the second quarter worth $46,000. Legal & General Group Plc lifted its stake in shares of NioCorp Developments by 31.6% during the third quarter. Legal & General Group Plc now owns 7,584 shares of the company’s stock valued at $51,000 after acquiring an additional 1,822 shares during the period. JPMorgan Chase & Co. boosted its holdings in NioCorp Developments by 48,003.9% in the second quarter. JPMorgan Chase & Co. now owns 24,533 shares of the company’s stock valued at $57,000 after acquiring an additional 24,482 shares during the last quarter. Finally, Creative Planning acquired a new stake in NioCorp Developments in the second quarter worth about $57,000. Institutional investors and hedge funds own 4.03% of the company’s stock.

Analyst Upgrades and Downgrades

NB has been the topic of several recent analyst reports. William Blair started coverage on shares of NioCorp Developments in a research note on Monday, October 20th. They issued an “outperform” rating on the stock. HC Wainwright boosted their price target on shares of NioCorp Developments from $9.50 to $11.25 and gave the company a “buy” rating in a research report on Tuesday, January 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of NioCorp Developments in a report on Thursday, January 22nd. Finally, Loop Capital set a $8.70 price target on NioCorp Developments in a research report on Wednesday, January 7th. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $8.32.

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.