Quantinno Capital Management LP Takes $694,000 Position in NioCorp Developments Ltd. $NB

Quantinno Capital Management LP bought a new position in shares of NioCorp Developments Ltd. (NASDAQ:NB) during the first quarter, HoldingsChannel reports. The fund bought 155,554 shares of the company’s stock, valued at approximately $694,000.

A number of other institutional investors have also modified their holdings of the business. Sound Income Strategies LLC acquired a new stake in NioCorp Developments during the 1st quarter worth $25,000. Russell Investments Group Ltd. acquired a new position in NioCorp Developments in the third quarter valued at $40,000. Pittenger & Anderson Inc. raised its holdings in shares of NioCorp Developments by 74.6% in the fourth quarter. Pittenger & Anderson Inc. now owns 7,665 shares of the company’s stock valued at $41,000 after buying an additional 3,275 shares during the last quarter. Maltin Wealth Management Inc. purchased a new stake in shares of NioCorp Developments in the first quarter valued at about $45,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of NioCorp Developments during the second quarter worth about $46,000. 4.03% of the stock is owned by institutional investors and hedge funds.

NioCorp Developments Stock Performance

NioCorp Developments stock opened at $4.53 on Wednesday. The firm has a market capitalization of $659.52 million, a price-to-earnings ratio of -6.66 and a beta of 0.26. NioCorp Developments Ltd. has a fifty-two week low of $3.50 and a fifty-two week high of $12.58. The stock’s fifty day moving average is $4.76 and its two-hundred day moving average is $5.21.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NB. B. Riley Financial started coverage on NioCorp Developments in a report on Tuesday, June 9th. They set a “buy” rating and a $12.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating on shares of NioCorp Developments in a research report on Wednesday, July 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of NioCorp Developments in a research note on Friday, July 17th. Zacks Research lowered NioCorp Developments from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 19th. Finally, Wall Street Zen cut shares of NioCorp Developments from a “hold” rating to a “sell” rating in a report on Saturday, July 4th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $10.23.

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.