NioCorp Developments (NASDAQ:NB) Stock Rating Raised to “Sell” at Wall Street Zen

Wall Street Zen upgraded shares of NioCorp Developments (NASDAQ:NB) from a strong sell rating to a sell rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

A number of other research analysts have also weighed in on NB. HC Wainwright reaffirmed a “buy” rating on shares of NioCorp Developments in a research note on Wednesday, July 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of NioCorp Developments in a report on Friday, July 17th. Finally, Jefferies Financial Group started coverage on NioCorp Developments in a research report on Wednesday, September 2nd. They issued a “hold” rating and a $4.70 target price on the stock. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, NioCorp Developments has a consensus rating of “Hold” and a consensus target price of $8.85.

NioCorp Developments Stock Down 1.2%

Shares of NioCorp Developments stock opened at $3.37 on Friday. NioCorp Developments has a twelve month low of $3.33 and a twelve month high of $12.58. The business has a 50-day moving average price of $4.13 and a 200 day moving average price of $4.78. The firm has a market cap of $490.64 million, a PE ratio of -6.24 and a beta of 0.28.

NioCorp Developments (NASDAQ:NB) last announced its earnings results on Friday, September 25th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02. On average, sell-side analysts expect that NioCorp Developments will post -0.32 EPS for the current year.

Institutional Investors Weigh In On NioCorp Developments

Large investors have recently made changes to their positions in the stock. Sound Income Strategies LLC purchased a new position in NioCorp Developments during the first quarter worth approximately $25,000. GK Wealth Management LLC purchased a new stake in NioCorp Developments in the 3rd quarter valued at $28,000. Maltin Wealth Management Inc. acquired a new stake in shares of NioCorp Developments in the 1st quarter worth $45,000. Ironwood Wealth Management LLC. acquired a new stake in shares of NioCorp Developments in the 1st quarter worth $49,000. Finally, Talon Private Wealth LLC purchased a new position in shares of NioCorp Developments during the 1st quarter worth $53,000. 4.03% of the stock is currently owned by hedge funds and other institutional investors.

NioCorp Developments Company Profile

NioCorp Developments Ltd. is a U.S.-focused critical minerals company advancing the Elk Creek Critical Minerals Project in southeast Nebraska. The project is designed to produce niobium, scandium and titanium, with the potential to recover several rare earth elements, including neodymium, praseodymium, terbium and dysprosium.

NioCorp’s planned products are intended for use in applications such as high-strength steel, aerospace and defense systems, electric vehicles, permanent magnets, and other advanced technologies.