NioCorp Developments Ltd. (NASDAQ:NB) Given Consensus Rating of “Moderate Buy” by Brokerages

NioCorp Developments Ltd. (NASDAQ:NB) has been given a consensus rating of “Moderate Buy” by the six research firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $8.9250.

NB has been the subject of a number of analyst reports. HC Wainwright cut their price target on NioCorp Developments from $11.25 to $10.00 and set a “buy” rating for the company in a report on Thursday, April 9th. Zacks Research lowered NioCorp Developments from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 19th. Wall Street Zen raised NioCorp Developments from a “sell” rating to a “hold” rating in a report on Saturday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NioCorp Developments in a report on Tuesday, April 21st. 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 price target for the company.

Institutional Investors Weigh In On NioCorp Developments

Large investors have recently added to or reduced their stakes in the business. Sound Income Strategies LLC bought a new stake in NioCorp Developments during the first quarter valued at $25,000. Russell Investments Group Ltd. bought a new stake in NioCorp Developments during the third quarter worth about $40,000. Pittenger & Anderson Inc. lifted its stake in NioCorp Developments by 74.6% during the fourth 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 last quarter. Maltin Wealth Management Inc. bought a new stake in NioCorp Developments during the first quarter worth about $45,000. Finally, The Manufacturers Life Insurance Company bought a new stake in NioCorp Developments during the second quarter worth about $46,000. Institutional investors own 4.03% of the company’s stock.

NioCorp Developments Price Performance

NASDAQ:NB opened at $5.40 on Monday. The business has a fifty day simple moving average of $5.57 and a two-hundred day simple moving average of $5.71. NioCorp Developments has a 1 year low of $2.17 and a 1 year high of $12.58. The company has a market capitalization of $786.19 million, a P/E ratio of -7.94 and a beta of 0.22.

NioCorp Developments (NASDAQ:NB) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.02) EPS for the quarter, hitting analysts’ consensus estimates of ($0.02). As a group, analysts anticipate that NioCorp Developments will post -0.48 earnings per share for the current year.

NioCorp Developments Company Profile

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.