1,274,410 Shares of NioCorp Developments Ltd. $NB Bought by CenterBook Partners LP

CenterBook Partners LP purchased a new stake in shares of NioCorp Developments Ltd. (NASDAQ:NB) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,274,410 shares of the company’s stock, valued at approximately $4,588,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Victory Financial Group LLC lifted its holdings in shares of NioCorp Developments by 23.6% in the 3rd quarter. Victory Financial Group LLC now owns 15,735 shares of the company’s stock worth $57,000 after acquiring an additional 3,000 shares during the last quarter. CPR Investments Inc. acquired a new stake in NioCorp Developments in the 3rd quarter valued at approximately $39,000. Abel Hall LLC acquired a new stake in NioCorp Developments in the 3rd quarter valued at approximately $71,000. Vontobel Holding Ltd. raised its position in NioCorp Developments by 102.4% in the third quarter. Vontobel Holding Ltd. now owns 45,864 shares of the company’s stock valued at $165,000 after purchasing an additional 23,200 shares during the period. Finally, 4WEALTH Advisors Inc. raised its position in NioCorp Developments by 29.3% in the third quarter. 4WEALTH Advisors Inc. now owns 90,155 shares of the company’s stock valued at $315,000 after purchasing an additional 20,405 shares during the period. 4.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on NB shares. HC Wainwright restated a “buy” rating on shares of NioCorp Developments in a research note on Wednesday, July 15th. Wall Street Zen cut NioCorp Developments from a “sell” rating to a “strong sell” rating in a research note on Saturday. Texas Capital upgraded NioCorp Developments to a “strong-buy” rating in a report on Tuesday, October 20th. Jefferies Financial Group began coverage on NioCorp Developments in a research note on Wednesday, September 2nd. They set a “hold” rating and a $4.70 target price on the stock. Finally, Zacks Research raised NioCorp Developments from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 14th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $8.85.

NioCorp Developments Stock Performance

NASDAQ NB opened at $2.90 on Friday. The firm has a market cap of $422.96 million, a price-to-earnings ratio of -5.37 and a beta of 0.30. The firm has a 50 day simple moving average of $3.48 and a 200-day simple moving average of $4.81. NioCorp Developments Ltd. has a one year low of $2.59 and a one year high of $8.18.

NioCorp Developments (NASDAQ:NB) last announced its earnings results on Thursday, November 5th. The company reported ($0.03) earnings per share for the quarter, hitting the consensus estimate of ($0.03). Equities analysts predict that NioCorp Developments Ltd. will post -0.28 EPS for the current fiscal year.

NioCorp Developments Profile

NioCorp Developments Ltd. is a mineral-development company focused on advancing the Elk Creek Critical Minerals Project in southeastern Nebraska. The proposed project is designed to produce niobium, scandium and titanium, along with potential rare earth products, from a carbonatite ore body. These minerals are used in applications such as high-strength steel, aerospace components, lightweight alloys, permanent magnets and other advanced technologies.

NioCorp is focused on permitting, project financing, engineering and development rather than operating a producing mine.