NioCorp Developments (NASDAQ:NB) Price Target Raised to $11.25 at HC Wainwright

NioCorp Developments (NASDAQ:NB) had its price target boosted by HC Wainwright from $9.50 to $11.25 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s target price suggests a potential upside of 63.04% from the stock’s current price.

Several other equities research analysts have also commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NioCorp Developments in a report on Wednesday, October 8th. Loop Capital set a $8.70 target price on NioCorp Developments in a research note on Wednesday, January 7th. Finally, William Blair began coverage on NioCorp Developments in a report on Monday, October 20th. They set an “outperform” rating on the stock. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $8.32.

NioCorp Developments Trading Up 9.5%

NB opened at $6.90 on Tuesday. NioCorp Developments has a 12-month low of $1.49 and a 12-month high of $12.58. The firm has a 50 day moving average of $5.97 and a two-hundred day moving average of $5.53. The firm has a market capitalization of $823.58 million, a PE ratio of -8.41 and a beta of -0.14.

NioCorp Developments (NASDAQ:NB) last released its quarterly earnings data on Thursday, September 11th. The company reported ($0.19) EPS for the quarter. As a group, analysts predict that NioCorp Developments will post -0.34 EPS for the current fiscal year.

Hedge Funds Weigh In On NioCorp Developments

A number of hedge funds have recently bought and sold shares of the business. ProShare Advisors LLC acquired a new stake in NioCorp Developments in the second quarter valued at approximately $25,000. KPP Advisory Services LLC purchased a new position in shares of NioCorp Developments during the 2nd quarter valued at approximately $25,000. Wealth Enhancement Advisory Services LLC acquired a new stake in NioCorp Developments in the 2nd quarter valued at $27,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in NioCorp Developments in the 2nd quarter worth $30,000. Finally, Global Retirement Partners LLC purchased a new stake in NioCorp Developments in the 3rd quarter worth $31,000. Hedge funds and other institutional investors own 4.03% of the company’s stock.

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.