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

Key Points

• Analyst consensus: Five firms rate NioCorp Developments a "Moderate Buy" (1 sell, 3 buy, 1 strong buy) with an average 12‑month price target of about $8.32.
• Shares opened at $4.77 and trade in a 12‑month range of $1.59–$12.58 with a market cap of ~$680.8M and a negative P/E; the company beat last quarter's EPS (‑$0.04 vs. consensus ‑$0.88) while analysts expect about ‑0.34 EPS for the year.
• Several hedge funds recently established or increased positions (including Private Management, HITE Hedge, Brevan Howard, Alyeska and Deltroit), yet institutional ownership remains low at 4.03%.

NioCorp Developments Ltd. (NASDAQ:NB - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the five research firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $8.3167.

NB has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of NioCorp Developments in a report on Thursday, January 22nd. Loop Capital set a $8.70 target price on shares of NioCorp Developments in a research note on Wednesday, January 7th. HC Wainwright lifted their target price on NioCorp Developments from $9.50 to $11.25 and gave the company a "buy" rating in a research note on Tuesday, January 13th. Finally, Zacks Research upgraded NioCorp Developments from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 6th.

NioCorp Developments Stock Down 3.4%

Shares of NioCorp Developments stock opened at $4.77 on Friday. NioCorp Developments has a 12-month low of $1.59 and a 12-month high of $12.58. The stock has a market capitalization of $680.82 million, a P/E ratio of -5.89 and a beta of -0.12. The company has a 50-day simple moving average of $6.08 and a 200 day simple moving average of $6.24.

NioCorp Developments (NASDAQ:NB - Get Free Report) last issued its quarterly earnings data on Friday, February 6th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.88) by $0.84. On average, equities analysts anticipate that NioCorp Developments will post -0.34 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NB. Private Management Group Inc. bought a new stake in shares of NioCorp Developments in the 2nd quarter valued at about $4,890,000. HITE Hedge Asset Management LLC acquired a new position in NioCorp Developments during the third quarter valued at approximately $9,770,000. Brevan Howard Capital Management LP acquired a new position in NioCorp Developments during the third quarter valued at approximately $9,690,000. Alyeska Investment Group L.P. increased its stake in NioCorp Developments by 67.0% in the third quarter. Alyeska Investment Group L.P. now owns 2,801,102 shares of the company's stock valued at $18,711,000 after purchasing an additional 1,123,863 shares in the last quarter. Finally, Deltroit Asset Management UK LLP acquired a new stake in NioCorp Developments in the fourth quarter worth $5,677,000. 4.03% of the stock is currently owned by institutional investors.

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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