NioCorp Developments' (NB) "Sell (D-)" Rating Reaffirmed at Weiss Ratings

NioCorp Developments (NASDAQ:NB - Get Free Report)'s stock had its "sell (d-)" rating reiterated by equities research analysts at Weiss Ratings in a report released on Saturday,Weiss Ratings reports.

A number of other brokerages have also commented on NB. HC Wainwright upped their price target on NioCorp Developments from $4.00 to $8.25 and gave the stock a "buy" rating in a report on Monday, September 22nd. Maxim Group raised their target price on NioCorp Developments from $4.00 to $5.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Finally, William Blair initiated coverage on NioCorp Developments in a research report on Monday, October 20th. They issued an "outperform" rating for the company. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, NioCorp Developments presently has an average rating of "Moderate Buy" and an average price target of $6.63.

NioCorp Developments Price Performance

NASDAQ:NB opened at $8.26 on Friday. NioCorp Developments has a fifty-two week low of $1.27 and a fifty-two week high of $12.58. The stock's 50-day moving average is $6.45 and its two-hundred day moving average is $4.09. The stock has a market cap of $642.30 million, a PE ratio of -24.29 and a beta of -0.18.

Institutional Trading of NioCorp Developments

A number of hedge funds have recently made changes to their positions in NB. PFG Advisors increased its stake 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 in the last quarter. CreativeOne Wealth LLC boosted its holdings in shares of NioCorp Developments by 76.0% during the 1st quarter. CreativeOne Wealth LLC now owns 29,983 shares of the company's stock valued at $59,000 after purchasing an additional 12,946 shares during the last quarter. Armistice Capital LLC bought a new position in shares of NioCorp Developments during the 1st quarter valued at about $2,573,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of NioCorp Developments in the 2nd quarter valued at about $27,000. Finally, KPP Advisory Services LLC bought a new stake in NioCorp Developments in the second quarter worth about $25,000. 4.03% of the stock is owned by institutional investors.

About NioCorp Developments

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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