1,306,273 Shares in NioCorp Developments Ltd. $NB Purchased by Armistice Capital LLC

Key Points

• Armistice Capital LLC has acquired a new position in NioCorp Developments Ltd., purchasing approximately $2.57 million worth of shares, which represents about 2.42% ownership in the company.
• Equities analysts have mixed views on NioCorp, with Maxim Group raising its price target from $4.00 to $5.00, while HC Wainwright lowered it from $4.25 to $4.00, maintaining a "buy" rating.
• NioCorp reported a loss of ($0.16) EPS for the latest quarter and expects to post a similar loss in the current fiscal year, with an average price target from analysts set at $4.50.

Armistice Capital LLC purchased a new position in shares of NioCorp Developments Ltd. (NASDAQ:NB - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,306,273 shares of the company's stock, valued at approximately $2,573,000. Armistice Capital LLC owned about 2.42% of NioCorp Developments as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. CreativeOne Wealth LLC increased its stake in shares of NioCorp Developments by 76.0% during the 1st quarter. CreativeOne Wealth LLC now owns 29,983 shares of the company's stock worth $59,000 after purchasing an additional 12,946 shares during the last quarter. PFG Advisors lifted its position in NioCorp Developments by 384.2% during the 1st quarter. PFG Advisors now owns 181,168 shares of the company's stock worth $357,000 after acquiring an additional 143,750 shares during the last quarter. Jane Street Group LLC bought a new position in shares of NioCorp Developments during the 4th quarter worth about $359,000. Finally, Northern Trust Corp bought a new position in shares of NioCorp Developments during the 4th quarter worth about $980,000. Institutional investors and hedge funds own 4.03% of the company's stock.

NioCorp Developments Price Performance

Shares of NB stock traded down $0.01 during trading hours on Wednesday, reaching $4.36. 2,330,663 shares of the company were exchanged, compared to its average volume of 5,264,641. NioCorp Developments Ltd. has a fifty-two week low of $1.27 and a fifty-two week high of $5.19. The stock's fifty day moving average is $3.57 and its two-hundred day moving average is $2.77. The company has a market cap of $256.37 million, a price-to-earnings ratio of -12.82 and a beta of -0.29.

NioCorp Developments (NASDAQ:NB - Get Free Report) last announced its quarterly earnings data on Friday, July 11th. The company reported ($0.16) earnings per share (EPS) for the quarter. NioCorp Developments has set its FY 2025 guidance at -0.350--0.350 EPS. On average, research analysts anticipate that NioCorp Developments Ltd. will post -0.34 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Maxim Group boosted their price objective on shares of NioCorp Developments from $4.00 to $5.00 and gave the stock a "buy" rating in a report on Friday, July 11th. HC Wainwright lowered their target price on shares of NioCorp Developments from $4.25 to $4.00 and set a "buy" rating on the stock in a research note on Thursday, July 3rd. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $4.50.

About NioCorp Developments

NioCorp Developments Ltd. engages in the exploration and development of mineral deposits in North America. It owns and develops the Elk Creek niobium/scandium/titanium project that owns one 226.43-acre parcel of land and associated mineral rights, and an additional 40 acres of mineral rights, as well as an optioned land package that covers an area of 1,396 acres located in Johnson County, southeast Nebraska.