Northern Trust Corp Buys Shares of 632,397 NioCorp Developments Ltd. (NASDAQ:NB)

Northern Trust Corp bought a new stake in shares of NioCorp Developments Ltd. (NASDAQ:NB - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 632,397 shares of the company's stock, valued at approximately $980,000. Northern Trust Corp owned 1.36% of NioCorp Developments at the end of the most recent quarter.

Separately, Virtu Financial LLC boosted its position in shares of NioCorp Developments by 158.0% in the fourth quarter. Virtu Financial LLC now owns 34,355 shares of the company's stock worth $53,000 after purchasing an additional 21,038 shares during the period. Hedge funds and other institutional investors own 4.03% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright boosted their target price on shares of NioCorp Developments from $3.25 to $4.25 and gave the stock a "buy" rating in a report on Tuesday, April 29th.

NioCorp Developments Stock Up 0.4%

NASDAQ NB traded up $0.01 during trading hours on Tuesday, hitting $2.51. 414,588 shares of the company were exchanged, compared to its average volume of 378,736. The stock has a 50-day moving average price of $2.40 and a 200 day moving average price of $2.01. NioCorp Developments Ltd. has a 52 week low of $1.27 and a 52 week high of $4.15. The stock has a market cap of $139.83 million, a PE ratio of -3.26 and a beta of -0.37.

NioCorp Developments (NASDAQ:NB - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.08). As a group, sell-side analysts anticipate that NioCorp Developments Ltd. will post -0.34 earnings per share for the current year.

NioCorp Developments Profile

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.