Gratia Capital LLC Invests $1.98 Million in NioCorp Developments Ltd. $NB

Gratia Capital LLC bought a new stake in NioCorp Developments Ltd. (NASDAQ:NB) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 410,000 shares of the company’s stock, valued at approximately $1,976,000. NioCorp Developments makes up approximately 1.2% of Gratia Capital LLC’s holdings, making the stock its 22nd biggest holding.

A number of other institutional investors have also made changes to their positions in the business. Bank of New York Mellon Corp acquired a new stake in NioCorp Developments in the 2nd quarter valued at about $1,988,000. Harfst & Associates Inc. increased its holdings in shares of NioCorp Developments by 76.1% in the fourth quarter. Harfst & Associates Inc. now owns 184,620 shares of the company’s stock valued at $978,000 after purchasing an additional 79,810 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of NioCorp Developments in the first quarter valued at approximately $535,000. Quantinno Capital Management LP bought a new position in NioCorp Developments in the 1st quarter worth approximately $694,000. Finally, Deltroit Asset Management UK LLP acquired a new position in NioCorp Developments during the 4th quarter worth $5,677,000. 4.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NB. HC Wainwright restated a “buy” rating on shares of NioCorp Developments in a research report on Wednesday, July 15th. B. Riley Financial started coverage on NioCorp Developments in a research report on Tuesday, June 9th. They issued a “buy” rating and a $12.00 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of NioCorp Developments in a research report on Friday, July 17th. Zacks Research lowered shares of NioCorp Developments from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. Finally, Jefferies Financial Group initiated coverage on shares of NioCorp Developments in a research note on Wednesday, September 2nd. They set a “hold” rating and a $4.70 price target for the company. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $8.85.

NioCorp Developments Price Performance

NioCorp Developments stock opened at $4.04 on Thursday. NioCorp Developments Ltd. has a one year low of $3.82 and a one year high of $12.58. The company has a market cap of $588.18 million, a price-to-earnings ratio of -5.94 and a beta of 0.25. The firm has a 50-day moving average of $4.52 and a 200-day moving average of $5.01.

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.