NioCorp Developments Ltd. (NASDAQ:NB) Receives Average Recommendation of “Moderate Buy” from Brokerages

NioCorp Developments Ltd. (NASDAQ:NB) has earned a consensus recommendation of “Moderate Buy” from the five research firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $8.3167.

NB has been the topic of several research analyst reports. Zacks Research raised shares of NioCorp Developments from a “hold” rating to a “strong-buy” rating in a report on Friday, February 6th. Loop Capital set a $8.70 price objective on shares of NioCorp Developments in a research note on Wednesday, January 7th. HC Wainwright boosted their price objective on NioCorp Developments from $9.50 to $11.25 and gave the company a “buy” rating in a research report on Tuesday, January 13th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of NioCorp Developments in a research note on Thursday, January 22nd.

NioCorp Developments Price Performance

Shares of NB stock opened at $5.01 on Friday. NioCorp Developments has a one year low of $1.66 and a one year high of $12.58. The firm has a 50-day moving average of $6.05 and a 200-day moving average of $6.27. The company has a market cap of $715.08 million, a P/E ratio of -6.19 and a beta of -0.12.

NioCorp Developments (NASDAQ:NB) last issued its quarterly earnings results on Friday, February 6th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.88) by $0.84. As a group, research analysts expect that NioCorp Developments will post -0.34 earnings per share for the current fiscal year.

Institutional Trading of NioCorp Developments

Hedge funds and other institutional investors have recently made changes to their positions in the stock. ProShare Advisors LLC bought a new stake in shares of NioCorp Developments in the second quarter worth $25,000. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of NioCorp Developments in the second quarter valued at about $30,000. Global Retirement Partners LLC purchased a new stake in NioCorp Developments during the 3rd quarter valued at approximately $31,000. Blue Capital Inc. bought a new stake in NioCorp Developments in the 2nd quarter valued at $36,000. Finally, Russell Investments Group Ltd. purchased a new stake in shares of NioCorp Developments in the third quarter worth about $40,000. Hedge funds and other institutional investors own 4.03% of the company’s stock.

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.