NioCorp Developments (NB) to Release Earnings on Wednesday

Key Points

• NioCorp Developments is expected to report quarterly results before the market opens Wednesday, September 9. Analysts forecast a loss of $0.035 per share.
• NB shares opened at $4.13, below both the 50-day moving average of $4.56 and 200-day moving average of $5.04; the stock has traded between $3.82 and $12.58 over the past year.
• Analyst sentiment is mixed, with a consensus rating of “Hold” and an average price target of $8.85. Institutional investors own approximately 4.03% of the company.

NioCorp Developments (NASDAQ:NB - Get Free Report) is expected to issue its results before the market opens on Wednesday, September 9th. Analysts expect the company to announce earnings of ($0.0350) per share for the quarter.

NioCorp Developments Stock Performance

Shares of NB opened at $4.13 on Friday. The stock has a 50-day simple moving average of $4.56 and a 200-day simple moving average of $5.04. The stock has a market capitalization of $601.29 million, a PE ratio of -6.07 and a beta of 0.25. NioCorp Developments has a 1 year low of $3.82 and a 1 year high of $12.58.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NB. Weiss Ratings restated a "sell (d-)" rating on shares of NioCorp Developments in a report on Friday, July 17th. Zacks Research downgraded NioCorp Developments from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 19th. HC Wainwright reiterated a "buy" rating on shares of NioCorp Developments in a research note on Wednesday, July 15th. Jefferies Financial Group initiated coverage on NioCorp Developments in a research report on Wednesday. They set a "hold" rating and a $4.70 target price on the stock. Finally, Wall Street Zen downgraded NioCorp Developments from a "hold" rating to a "sell" rating in a research note on Saturday, July 4th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $8.85.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Legal & General Group Plc boosted its position in shares of NioCorp Developments by 31.6% in the 3rd quarter. Legal & General Group Plc now owns 7,584 shares of the company's stock worth $51,000 after buying an additional 1,822 shares in the last quarter. Royal Bank of Canada raised its position in NioCorp Developments by 24.9% during the fourth quarter. Royal Bank of Canada now owns 11,272 shares of the company's stock worth $61,000 after acquiring an additional 2,244 shares during the last quarter. NewEdge Advisors LLC raised its position in NioCorp Developments by 11.6% during the fourth quarter. NewEdge Advisors LLC now owns 37,873 shares of the company's stock worth $201,000 after acquiring an additional 3,942 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of NioCorp Developments by 17.5% in the third quarter. JPMorgan Chase & Co. now owns 28,831 shares of the company's stock valued at $193,000 after purchasing an additional 4,298 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of NioCorp Developments by 73.6% in the fourth quarter. Russell Investments Group Ltd. now owns 10,492 shares of the company's stock valued at $56,000 after purchasing an additional 4,447 shares in the last quarter. Hedge funds and other institutional investors own 4.03% of the company's stock.

NioCorp Developments Company Profile

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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