Gratia Capital LLC Makes New $1.98 Million Investment in NioCorp Developments Ltd. $NB

Key Points

• Gratia Capital acquired 410,000 NioCorp Developments shares in the second quarter, investing approximately $1.98 million and taking a 0.28% stake.
• Other institutional investors also increased exposure, but overall institutional ownership remains low at 4.03% of NioCorp’s outstanding shares.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an $8.85 target price. NioCorp shares opened at $4.04, near their 12-month low of $3.82.

Gratia Capital LLC bought a new position in NioCorp Developments Ltd. (NASDAQ:NB - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 410,000 shares of the company's stock, valued at approximately $1,976,000. NioCorp Developments makes up about 1.2% of Gratia Capital LLC's portfolio, making the stock its 22nd largest holding. Gratia Capital LLC owned 0.28% of NioCorp Developments as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. California State Teachers Retirement System raised its holdings in shares of NioCorp Developments by 634.8% during the 2nd quarter. California State Teachers Retirement System now owns 792,095 shares of the company's stock valued at $3,818,000 after purchasing an additional 684,296 shares in the last quarter. Blue Capital Inc. bought a new stake in NioCorp Developments in the second quarter worth $127,000. Bank of New York Mellon Corp bought a new stake in NioCorp Developments in the second quarter worth $1,988,000. Allen Capital Group LLC increased its position in NioCorp Developments by 15.8% during the first quarter. Allen Capital Group LLC now owns 19,718 shares of the company's stock worth $88,000 after buying an additional 2,690 shares during the last quarter. Finally, Altshuler Shaham Ltd acquired a new position in NioCorp Developments during the first quarter worth $61,000. Institutional investors and hedge funds own 4.03% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. 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. Wall Street Zen cut NioCorp Developments from a "hold" rating to a "sell" rating in a research report on Saturday, July 4th. Jefferies Financial Group initiated coverage on NioCorp Developments in a report on Wednesday, September 2nd. They set a "hold" rating and a $4.70 price target on the stock. Finally, HC Wainwright reissued a "buy" rating on shares of NioCorp Developments in a research report on Wednesday, July 15th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, NioCorp Developments has a consensus rating of "Hold" and a consensus target price of $8.85.

NioCorp Developments Stock Down 1.9%

Shares of NB stock opened at $4.04 on Thursday. The company has a market capitalization of $588.18 million, a P/E ratio of -5.94 and a beta of 0.25. NioCorp Developments Ltd. has a 12-month low of $3.82 and a 12-month high of $12.58. The firm has a 50-day moving average price of $4.52 and a 200 day moving average price of $5.01.

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.

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