Deltroit Asset Management UK LLP Takes Position in NioCorp Developments Ltd. $NB

Deltroit Asset Management UK LLP purchased a new stake in shares of NioCorp Developments Ltd. (NASDAQ:NB) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,071,150 shares of the company’s stock, valued at approximately $5,677,000. NioCorp Developments comprises about 0.8% of Deltroit Asset Management UK LLP’s investment portfolio, making the stock its 22nd biggest holding.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Legal & General Group Plc increased its position in shares of NioCorp Developments by 31.6% during the 3rd quarter. Legal & General Group Plc now owns 7,584 shares of the company’s stock valued at $51,000 after purchasing an additional 1,822 shares during the last quarter. CWM LLC increased its position in shares of NioCorp Developments by 24.9% during the 4th quarter. CWM LLC now owns 11,127 shares of the company’s stock valued at $59,000 after purchasing an additional 2,215 shares during the last quarter. Pittenger & Anderson Inc. increased its position in shares of NioCorp Developments by 74.6% during the 4th quarter. Pittenger & Anderson Inc. now owns 7,665 shares of the company’s stock valued at $41,000 after purchasing an additional 3,275 shares during the last quarter. Jones Financial Companies Lllp increased its position in shares of NioCorp Developments by 131.9% during the 3rd quarter. Jones Financial Companies Lllp now owns 7,183 shares of the company’s stock valued at $49,000 after purchasing an additional 4,085 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of NioCorp Developments by 17.5% during the 3rd 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 during the last quarter. Hedge funds and other institutional investors own 4.03% of the company’s stock.

NioCorp Developments Trading Down 12.9%

Shares of NASDAQ:NB opened at $5.13 on Friday. The stock has a 50 day moving average of $5.50 and a 200 day moving average of $5.73. The company has a market cap of $746.88 million, a PE ratio of -7.54 and a beta of 0.21. NioCorp Developments Ltd. has a 12-month low of $2.17 and a 12-month high of $12.58.

NioCorp Developments (NASDAQ:NB) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.02) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.02). Equities research analysts predict that NioCorp Developments Ltd. will post -0.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on NB shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of NioCorp Developments in a research note on Tuesday, April 21st. Zacks Research downgraded NioCorp Developments from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. Finally, HC Wainwright cut their price objective on NioCorp Developments from $11.25 to $10.00 and set a “buy” rating for the company in a research note on Thursday, April 9th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, NioCorp Developments presently has a consensus rating of “Hold” and an average target price of $7.90.

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.