NioCorp Developments Ltd. (NASDAQ:NB) Given Average Recommendation of "Hold" by Analysts

Key Points

• Analyst consensus is “Hold” for NioCorp Developments, based on six brokers: three buys, two holds and one sell. The average 12-month price target is $8.85.
• NioCorp shares opened at $3.73, near their 12-month low of $3.40 and well below the $12.58 high; the stock’s 50-day and 200-day moving averages are $4.34 and $4.90, respectively.
• Institutional investors and hedge funds own only 4.03% of the company, although several firms recently increased their positions. NioCorp is focused on developing the Elk Creek Project to produce niobium, scandium, titanium and rare earth elements.

Shares of NioCorp Developments Ltd. (NASDAQ:NB - Get Free Report) have received a consensus rating of "Hold" from the six brokerages that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $8.85.

Several analysts recently weighed in on the stock. Jefferies Financial Group started coverage on shares of NioCorp Developments in a research report on Wednesday, September 2nd. They issued a "hold" rating and a $4.70 price objective on the stock. Wall Street Zen lowered shares of NioCorp Developments from a "hold" rating to a "sell" rating in a research note on Saturday, July 4th. B. Riley Financial assumed 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. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of NioCorp Developments in a report on Friday, July 17th. Finally, HC Wainwright reiterated a "buy" rating on shares of NioCorp Developments in a research report on Wednesday, July 15th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Allen Capital Group LLC increased its stake in shares of NioCorp Developments by 15.8% during the first quarter. Allen Capital Group LLC now owns 19,718 shares of the company's stock valued at $88,000 after acquiring an additional 2,690 shares during the period. Keybank National Association OH lifted its position in NioCorp Developments by 22.8% in the first quarter. Keybank National Association OH now owns 15,963 shares of the company's stock worth $71,000 after purchasing an additional 2,963 shares during the period. Sound Income Strategies LLC acquired a new stake in NioCorp Developments in the first quarter worth approximately $25,000. Cetera Investment Advisers increased its position in shares of NioCorp Developments by 11.5% during the 1st quarter. Cetera Investment Advisers now owns 65,848 shares of the company's stock valued at $294,000 after purchasing an additional 6,783 shares during the period. Finally, ProShare Advisors LLC increased its position in shares of NioCorp Developments by 64.7% during the 4th quarter. ProShare Advisors LLC now owns 19,564 shares of the company's stock valued at $104,000 after purchasing an additional 7,689 shares during the period. Institutional investors and hedge funds own 4.03% of the company's stock.

NioCorp Developments Price Performance

Shares of NB opened at $3.73 on Wednesday. The company has a market cap of $543.05 million, a P/E ratio of -5.49 and a beta of 0.25. The stock has a fifty day moving average price of $4.34 and a 200 day moving average price of $4.90. NioCorp Developments has a 12 month low of $3.40 and a 12 month high of $12.58.

NioCorp Developments Company Profile

NioCorp Developments Ltd. NASDAQ: NB is a development-stage critical minerals company focused on advancing the Elk Creek Project in southeastern Nebraska. The company is evaluating the development of a domestic source of niobium, scandium and titanium, along with certain rare earth elements, including neodymium, praseodymium, dysprosium and terbium.

The proposed Elk Creek operation is designed to process mineralized material into products that could support industries such as transportation, aerospace, defense, electronics and clean energy.

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