NioCorp Developments Ltd. $NB Shares Newly Bought by CenterBook Partners LP

Key Points

• CenterBook Partners LP acquired 1,274,410 NioCorp shares in the third quarter, worth about $4.59 million and representing roughly 0.88% of the company. Other institutional investors also opened or increased positions; institutions collectively owned 4.03% of the stock.
• Analyst views are mixed, ranging from strong buy to sell, but MarketBeat reports a “Moderate Buy” consensus and an average price target of $8.85.
• NioCorp shares opened at $2.90, below their 50-day and 200-day moving averages; the stock’s 52-week range is $2.59–$8.18. The company reported quarterly EPS of -$0.03, in line with estimates.

CenterBook Partners LP acquired a new position in NioCorp Developments Ltd. (NASDAQ:NB - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 1,274,410 shares of the company's stock, valued at approximately $4,588,000. CenterBook Partners LP owned about 0.88% of NioCorp Developments at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. GK Wealth Management LLC acquired a new position in shares of NioCorp Developments during the third quarter valued at approximately $28,000. CPR Investments Inc. acquired a new stake in shares of NioCorp Developments in the third quarter worth approximately $39,000. Talon Private Wealth LLC acquired a new stake in shares of NioCorp Developments in the first quarter worth approximately $53,000. Altshuler Shaham Ltd acquired a new stake in shares of NioCorp Developments in the first quarter worth approximately $61,000. Finally, Victory Financial Group LLC increased its position in shares of NioCorp Developments by 23.6% during the third quarter. Victory Financial Group LLC now owns 15,735 shares of the company's stock worth $57,000 after purchasing an additional 3,000 shares in the last quarter. 4.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NB has been the subject of several recent research reports. Wall Street Zen downgraded NioCorp Developments from a "sell" rating to a "strong sell" rating in a research note on Saturday. Zacks Research raised shares of NioCorp Developments from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 14th. Jefferies Financial Group initiated coverage on shares of NioCorp Developments in a report on Wednesday, September 2nd. They set a "hold" rating and a $4.70 target price for the company. HC Wainwright reaffirmed a "buy" rating on shares of NioCorp Developments in a report on Wednesday, July 15th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of NioCorp Developments in a research report on Thursday, October 15th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, NioCorp Developments has a consensus rating of "Moderate Buy" and an average price target of $8.85.

NioCorp Developments Price Performance

NASDAQ:NB opened at $2.90 on Friday. The firm has a market capitalization of $422.96 million, a price-to-earnings ratio of -5.37 and a beta of 0.30. The company's 50-day moving average is $3.48 and its two-hundred day moving average is $4.81. NioCorp Developments Ltd. has a 1-year low of $2.59 and a 1-year high of $8.18.

NioCorp Developments (NASDAQ:NB - Get Free Report) last released its quarterly earnings results on Thursday, November 5th. The company reported ($0.03) EPS for the quarter, meeting the consensus estimate of ($0.03). As a group, equities analysts anticipate that NioCorp Developments Ltd. will post -0.28 earnings per share for the current fiscal year.

About NioCorp Developments

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.

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