NioCorp Developments Ltd. (NASDAQ:NB) Stock Has Average Target Price of $8.85 According to Brokerages

Key Points

• Analyst sentiment is moderately bullish: Six analysts have assigned NioCorp a consensus “Moderate Buy” rating, with an average 12-month price target of $8.85 versus the reported share price of $3.13.
• Recent ratings were mixed, including a hold from Jefferies, a sell from Weiss Ratings, and upgrades to strong buy from Zacks Research and buy from HC Wainwright.
• NioCorp’s shares remain near their 52-week low, while the company reported a quarterly loss of $0.02 per share—better than the $0.04 loss analysts expected. Its Elk Creek project aims to produce niobium, scandium, titanium and potentially rare earth elements.

NioCorp Developments Ltd. (NASDAQ:NB - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the six analysts that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $8.85.

A number of research analysts recently commented on the stock. Jefferies Financial Group started coverage on shares of NioCorp Developments in a research note on Wednesday, September 2nd. They issued a "hold" rating and a $4.70 price target on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of NioCorp Developments in a research note on Thursday. Zacks Research raised shares of NioCorp Developments from a "hold" rating to a "strong-buy" rating in a research note on Wednesday. HC Wainwright reissued a "buy" rating on shares of NioCorp Developments in a research note on Wednesday, July 15th. Finally, Wall Street Zen raised NioCorp Developments from a "strong sell" rating to a "sell" rating in a research report on Saturday, October 10th.

Institutional Investors Weigh In On NioCorp Developments

A number of hedge funds have recently modified their holdings of NB. Sound Income Strategies LLC bought a new position in NioCorp Developments in the 1st quarter valued at $25,000. GK Wealth Management LLC purchased a new position in NioCorp Developments during the 3rd quarter valued at about $28,000. Maltin Wealth Management Inc. bought a new stake in NioCorp Developments in the first quarter worth $45,000. Ironwood Wealth Management LLC. bought a new position in NioCorp Developments in the 1st quarter worth about $49,000. Finally, Talon Private Wealth LLC purchased a new position in shares of NioCorp Developments in the first quarter worth $53,000. Institutional investors own 4.03% of the company's stock.

NioCorp Developments Stock Performance

Shares of NB opened at $3.13 on Friday. The firm has a market capitalization of $455.69 million, a price-to-earnings ratio of -5.80 and a beta of 0.28. NioCorp Developments has a 52 week low of $3.03 and a 52 week high of $9.80. The business's fifty day moving average price is $3.96 and its two-hundred day moving average price is $4.73.

NioCorp Developments (NASDAQ:NB - Get Free Report) last released its quarterly earnings data on Friday, September 25th. The company reported ($0.02) EPS for the quarter, beating analysts' consensus estimates of ($0.04) by $0.02. As a group, research analysts forecast that NioCorp Developments will post -0.28 EPS for the current year.

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.

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