NioCorp Developments (NASDAQ:NB) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded NioCorp (NASDAQ: NB) from a "hold" to a "strong-buy" rating in a report released Monday.
• Analysts are mixed but mildly positive overall: the consensus is a "Moderate Buy" (1 Strong Buy, 3 Buy, 1 Sell) with an average price target of $7.90, while the stock opened at $4.99 and has a 52-week range of $2.17–$12.58.
• NioCorp, developing the Elk Creek critical-minerals project (niobium, scandium, titanium), reported Q4 EPS of ($0.05) that beat the ($0.88) estimate, though analysts forecast FY EPS of about ($0.34).

NioCorp Developments (NASDAQ:NB - Get Free Report) was upgraded by research analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a report released on Monday,Zacks.com reports.

Other equities analysts have also issued reports about the stock. HC Wainwright lowered their price target on shares of NioCorp Developments from $11.25 to $10.00 and set a "buy" rating on the stock in a research report on Thursday, April 9th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of NioCorp Developments in a research report on Thursday, January 22nd. Finally, Loop Capital set a $8.70 target price on shares of NioCorp Developments in a report on Wednesday, January 7th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $7.90.

NioCorp Developments Stock Performance

NB opened at $4.99 on Monday. The business's 50-day simple moving average is $5.14 and its 200 day simple moving average is $6.21. NioCorp Developments has a 52-week low of $2.17 and a 52-week high of $12.58. The firm has a market capitalization of $712.22 million, a PE ratio of -6.16 and a beta of -0.03.

NioCorp Developments (NASDAQ:NB - Get Free Report) last posted its quarterly earnings results on Friday, February 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.88) by $0.83. On average, research analysts forecast that NioCorp Developments will post -0.34 earnings per share for the current year.

Institutional Trading of NioCorp Developments

Hedge funds have recently bought and sold shares of the business. Global Retirement Partners LLC bought a new position in shares of NioCorp Developments in the 3rd quarter worth $31,000. Russell Investments Group Ltd. bought a new stake in NioCorp Developments in the third quarter worth $40,000. Pittenger & Anderson Inc. lifted its stake in shares of NioCorp Developments by 74.6% in the fourth quarter. Pittenger & Anderson Inc. now owns 7,665 shares of the company's stock worth $41,000 after buying an additional 3,275 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in NioCorp Developments during the second quarter valued at approximately $46,000. Finally, Jones Financial Companies Lllp raised its position in NioCorp Developments by 131.9% in the third quarter. Jones Financial Companies Lllp now owns 7,183 shares of the company's stock worth $49,000 after acquiring an additional 4,085 shares during the period. 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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