NioCorp Developments (NASDAQ:NB) Hits New 1-Year High - Should You Buy?

Key Points

• NioCorp Developments (NASDAQ:NB) reached a new 52-week high of $6.78 during trading, reflecting a significant increase from its previous close of $6.14.
• Analysts have upgraded their price targets for the stock, with Maxim Group setting a target at $5.00 and HC Wainwright at $8.25, resulting in a consensus rating of "Buy" and an average target of $6.63.
• Institutional investors have shown increased interest, with Jane Street Group and Northern Trust Corp among those purchasing new positions in NioCorp Developments recently.

NioCorp Developments Ltd. (NASDAQ:NB - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $6.78 and last traded at $6.61, with a volume of 1157726 shares. The stock had previously closed at $6.14.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Maxim Group raised their target price on shares of NioCorp Developments from $4.00 to $5.00 and gave the stock a "buy" rating in a report on Friday, July 11th. HC Wainwright lifted their price target on shares of NioCorp Developments from $4.00 to $8.25 and gave the company a "buy" rating in a report on Monday. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $6.63.

NioCorp Developments Price Performance

The firm has a market cap of $526.05 million, a PE ratio of -19.80 and a beta of -0.29. The firm has a 50-day simple moving average of $4.25 and a 200 day simple moving average of $3.06.

NioCorp Developments (NASDAQ:NB - Get Free Report) last announced its quarterly earnings data on Friday, July 11th. The company reported ($0.16) EPS for the quarter. NioCorp Developments has set its FY 2025 guidance at -0.350--0.350 EPS. Sell-side analysts forecast that NioCorp Developments Ltd. will post -0.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NioCorp Developments

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jane Street Group LLC purchased a new position in NioCorp Developments during the fourth quarter valued at $359,000. Northern Trust Corp purchased a new position in NioCorp Developments during the fourth quarter valued at $980,000. Armistice Capital LLC purchased a new position in shares of NioCorp Developments in the 1st quarter worth about $2,573,000. PFG Advisors raised its position in shares of NioCorp Developments by 384.2% in the 1st quarter. PFG Advisors now owns 181,168 shares of the company's stock worth $357,000 after purchasing an additional 143,750 shares during the last quarter. Finally, CreativeOne Wealth LLC raised its position in shares of NioCorp Developments by 76.0% in the 1st quarter. CreativeOne Wealth LLC now owns 29,983 shares of the company's stock worth $59,000 after purchasing an additional 12,946 shares during the last quarter. Hedge funds and other 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.

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