NioCorp Developments (NASDAQ:NB) Announces Quarterly Earnings Results, Misses Estimates By $0.02 EPS

NioCorp Developments (NASDAQ:NB) issued its quarterly earnings results on Thursday. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.02), Zacks reports.

NioCorp Developments Price Performance

NioCorp Developments stock opened at $5.88 on Friday. NioCorp Developments has a 12-month low of $1.30 and a 12-month high of $12.58. The company has a market capitalization of $457.23 million, a price-to-earnings ratio of -7.17 and a beta of -0.17. The firm’s fifty day moving average price is $7.11 and its 200 day moving average price is $4.50.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NB. Creative Planning grew its stake in NioCorp Developments by 28.4% during the 3rd quarter. Creative Planning now owns 31,306 shares of the company’s stock valued at $209,000 after purchasing an additional 6,924 shares in the last quarter. Prairie Wealth Advisors Inc. purchased a new position in shares of NioCorp Developments during the 3rd quarter valued at approximately $68,000. Raymond James Financial Inc. grew its position in shares of NioCorp Developments by 52.6% during the third quarter. Raymond James Financial Inc. now owns 142,991 shares of the company’s stock worth $955,000 after buying an additional 49,279 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of NioCorp Developments during the third quarter worth approximately $133,000. Finally, Two Sigma Investments LP increased its stake in shares of NioCorp Developments by 670.7% in the third quarter. Two Sigma Investments LP now owns 262,599 shares of the company’s stock worth $1,754,000 after buying an additional 228,528 shares during the last quarter. Institutional investors and hedge funds own 4.03% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on NB. HC Wainwright boosted their price objective on NioCorp Developments from $4.00 to $8.25 and gave the stock a “buy” rating in a research report on Monday, September 22nd. William Blair assumed coverage on shares of NioCorp Developments in a report on Monday, October 20th. They set an “outperform” rating for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of NioCorp Developments in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $6.63.

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.