NioCorp Developments Ltd. (NASDAQ:NB) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Analysts give NioCorp a consensus rating of Moderate Buy from five brokerages (1 sell, 3 buy, 1 strong buy) with an average 12‑month price target of $7.90; recent notable calls include Zacks upgrading to strong‑buy and HC Wainwright trimming its target to $10.00.
• Shares opened at $5.66, trading in a one‑year range of $2.17–$12.58 with a market cap of about $808M and a negative P/E; the company reported quarterly EPS of ($0.05), beating the consensus ($0.88).
• NioCorp is advancing the Elk Creek critical‑minerals project to produce niobium, scandium and titanium for industrial, aerospace and clean‑energy uses, and institutional ownership remains low (~4.0%) despite several recent small inflows.

Shares of NioCorp Developments Ltd. (NASDAQ:NB - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the five brokerages that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $7.90.

NB has been the subject of a number of analyst reports. Zacks Research raised shares of NioCorp Developments from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 13th. Loop Capital set a $8.70 price objective on shares of NioCorp Developments in a research report on Wednesday, January 7th. Weiss Ratings reissued a "sell (d-)" rating on shares of NioCorp Developments in a research report on Tuesday. Finally, HC Wainwright decreased their price objective on shares of NioCorp Developments from $11.25 to $10.00 and set a "buy" rating for the company in a research report on Thursday, April 9th.

NioCorp Developments Trading Down 1.2%

Shares of NB stock opened at $5.66 on Friday. NioCorp Developments has a 1 year low of $2.17 and a 1 year high of $12.58. The firm's fifty day moving average price is $5.14 and its two-hundred day moving average price is $6.14. The firm has a market capitalization of $807.85 million, a P/E ratio of -6.99 and a beta of -0.03.

NioCorp Developments (NASDAQ:NB - Get Free Report) last issued its quarterly earnings results on Friday, February 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.88) by $0.83. As a group, equities research analysts forecast that NioCorp Developments will post -0.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Keybank National Association OH grew its position in shares of NioCorp Developments by 22.8% in the 1st quarter. Keybank National Association OH now owns 15,963 shares of the company's stock valued at $71,000 after acquiring an additional 2,963 shares during the period. Pictet Asset Management Holding SA grew its position in shares of NioCorp Developments by 76.3% in the 1st quarter. Pictet Asset Management Holding SA now owns 24,616 shares of the company's stock valued at $110,000 after acquiring an additional 10,657 shares during the period. Maltin Wealth Management Inc. bought a new position in shares of NioCorp Developments in the 1st quarter valued at about $45,000. Brookstone Capital Management bought a new position in shares of NioCorp Developments in the 1st quarter valued at about $56,000. Finally, Ironwood Wealth Management LLC. bought a new position in shares of NioCorp Developments in the 1st quarter valued at about $49,000. Institutional investors own 4.03% of the company's stock.

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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