NioCorp Developments (NASDAQ:NB) Price Target Raised to $8.25

Key Points

• HC Wainwright has increased the price target for NioCorp Developments (NASDAQ:NB) from $4.00 to $8.25, reflecting a potential upside of 40.55% from its previous close, with a "buy" rating maintained.
• Maxim Group also raised its target price for NioCorp to $5.00, contributing to a consensus target price of $6.63 among analysts, all indicating a "buy" rating.
• NioCorp reported a loss of $0.16 earnings per share for the last quarter, with an expected -0.34 EPS for the current year as analysts predict.

NioCorp Developments (NASDAQ:NB - Get Free Report) had its target price raised by stock analysts at HC Wainwright from $4.00 to $8.25 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. HC Wainwright's price target indicates a potential upside of 37.73% from the company's current price.

Separately, Maxim Group increased their target price on shares of NioCorp Developments from $4.00 to $5.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, NioCorp Developments has a consensus rating of "Buy" and a consensus target price of $6.63.

NioCorp Developments Stock Performance

NB traded up $0.12 on Monday, reaching $5.99. The company had a trading volume of 5,749,438 shares, compared to its average volume of 3,639,842. NioCorp Developments has a fifty-two week low of $1.27 and a fifty-two week high of $6.46. The stock has a market cap of $465.78 million, a P/E ratio of -17.62 and a beta of -0.30. The company's fifty day moving average is $4.21 and its 200 day moving average is $3.04.

NioCorp Developments (NASDAQ:NB - Get Free Report) last announced its earnings results 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, sell-side analysts expect that NioCorp Developments will post -0.34 EPS for the current year.

Hedge Funds Weigh In On NioCorp Developments

Several large investors have recently modified their holdings of NB. Private Management Group Inc. acquired a new stake in NioCorp Developments in the second quarter worth $4,890,000. Armistice Capital LLC acquired a new stake in NioCorp Developments in the first quarter worth $2,573,000. Northern Trust Corp acquired a new stake in NioCorp Developments in the fourth quarter worth $980,000. Geode Capital Management LLC grew its holdings in NioCorp Developments by 2,376.5% in the second quarter. Geode Capital Management LLC now owns 644,182 shares of the company's stock worth $1,501,000 after purchasing an additional 618,170 shares during the period. Finally, Jane Street Group LLC acquired a new stake in NioCorp Developments in the fourth quarter worth $359,000. Institutional investors own 4.03% of the company's stock.

NioCorp Developments Company 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.