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

NioCorp Developments (NASDAQ:NB) is expected to be issuing its results before the market opens on Friday, July 10th. Analysts expect NioCorp Developments to announce earnings of ($0.06) per share for the quarter.

NioCorp Developments (NASDAQ:NB) last announced its earnings results on Thursday, May 14th. The company reported ($0.02) earnings per share for the quarter, meeting the consensus estimate of ($0.02). 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 Trading Down 1.7%

Shares of NASDAQ:NB opened at $4.74 on Friday. The firm has a market capitalization of $690.10 million, a PE ratio of -6.97 and a beta of 0.24. NioCorp Developments has a 1-year low of $2.30 and a 1-year high of $12.58. The business’s 50 day moving average is $5.47 and its 200-day moving average is $5.58.

Analyst Ratings Changes

A number of research analysts have weighed in on NB shares. Wall Street Zen upgraded shares of NioCorp Developments from a “sell” rating to a “hold” rating in a report on Saturday, June 13th. HC Wainwright lowered their target price 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 downgraded NioCorp Developments from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. B. Riley Financial assumed coverage on NioCorp Developments in a report on Tuesday, June 9th. They issued a “buy” rating and a $12.00 price target on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NioCorp Developments in a research report on Tuesday, April 21st. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, NioCorp Developments has a consensus rating of “Moderate Buy” and an average target price of $8.93.

Institutional Investors Weigh In On NioCorp Developments

Several institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC grew its position in NioCorp Developments by 324.0% during the fourth quarter. Virtu Financial LLC now owns 84,133 shares of the company’s stock valued at $446,000 after buying an additional 64,290 shares during the period. Invesco Ltd. increased its stake in shares of NioCorp Developments by 127.2% in the fourth quarter. Invesco Ltd. now owns 65,295 shares of the company’s stock worth $346,000 after purchasing an additional 36,555 shares in the last quarter. EP Wealth Advisors LLC bought a new stake in shares of NioCorp Developments during the 4th quarter valued at $114,000. NewEdge Advisors LLC raised its position in shares of NioCorp Developments by 11.6% during the 4th quarter. NewEdge Advisors LLC now owns 37,873 shares of the company’s stock valued at $201,000 after purchasing an additional 3,942 shares during the period. Finally, XTX Topco Ltd lifted its stake in shares of NioCorp Developments by 101.4% during the 4th quarter. XTX Topco Ltd now owns 56,411 shares of the company’s stock valued at $299,000 after buying an additional 28,401 shares in the last quarter. Hedge funds and other institutional investors own 4.03% of the company’s stock.

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.