PFG Advisors Boosts Holdings in NioCorp Developments Ltd. (NASDAQ:NB)

Key Points

• PFG Advisors significantly increased its stake in NioCorp Developments Ltd. by 384.2%, acquiring an additional 143,750 shares and owning a total of 181,168 shares worth $357,000.
• NioCorp Developments' stock has experienced a 1.3% decline, currently trading at $3.14, with a 12-month price range of $1.27 to $4.36.
• Analysts show mixed sentiments; Maxim Group raised their target price for NioCorp Developments from $4.00 to $5.00 while HC Wainwright reduced their price target from $4.25 to $4.00, both maintaining a "buy" rating.

PFG Advisors lifted its stake in shares of NioCorp Developments Ltd. (NASDAQ:NB - Free Report) by 384.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 181,168 shares of the company's stock after buying an additional 143,750 shares during the period. PFG Advisors owned approximately 0.34% of NioCorp Developments worth $357,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in NB. Virtu Financial LLC lifted its position in NioCorp Developments by 158.0% during the fourth quarter. Virtu Financial LLC now owns 34,355 shares of the company's stock valued at $53,000 after purchasing an additional 21,038 shares during the period. Jane Street Group LLC acquired a new position in NioCorp Developments during the fourth quarter valued at $359,000. Finally, Northern Trust Corp acquired a new position in NioCorp Developments during the fourth quarter valued at $980,000. 4.03% of the stock is currently owned by institutional investors and hedge funds.

NioCorp Developments Stock Down 4.8%

NioCorp Developments stock traded down $0.15 during mid-day trading on Tuesday, reaching $2.86. 430,121 shares of the company's stock were exchanged, compared to its average volume of 1,039,473. The company has a market cap of $167.87 million, a P/E ratio of -8.40 and a beta of -0.37. NioCorp Developments Ltd. has a twelve month low of $1.27 and a twelve month high of $4.36. The company has a fifty day moving average of $2.74 and a 200-day moving average of $2.39.

NioCorp Developments (NASDAQ:NB - Get Free Report) last released its earnings results on Friday, July 11th. The company reported ($0.16) earnings per share (EPS) for the quarter. Equities research analysts expect that NioCorp Developments Ltd. will post -0.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

NB has been the subject of a number of research reports. HC Wainwright cut their target price on shares of NioCorp Developments from $4.25 to $4.00 and set a "buy" rating for the company in a research note on Thursday, July 3rd. Maxim Group boosted their target price on shares of NioCorp Developments from $4.00 to $5.00 and gave the stock a "buy" rating in a research note on Friday, July 11th.

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.