NioCorp Developments (NASDAQ:NB) Trading Down 6.4% – What’s Next?

NioCorp Developments Ltd. (NASDAQ:NB) was down 6.4% during trading on Tuesday . The stock traded as low as $4.58 and last traded at $4.6250. Approximately 582,131 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 5,152,617 shares. The stock had previously closed at $4.94.

Analysts Set New Price Targets

Several equities analysts recently issued reports on NB shares. HC Wainwright boosted their price target on shares of NioCorp Developments from $9.50 to $11.25 and gave the company a “buy” rating in a research report on Tuesday, January 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NioCorp Developments in a research report on Thursday, January 22nd. Zacks Research lowered NioCorp Developments from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 13th. Finally, Loop Capital set a $8.70 price target on NioCorp Developments in a research report on Wednesday, January 7th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, NioCorp Developments has an average rating of “Hold” and an average target price of $8.32.

NioCorp Developments Trading Up 2.4%

The company has a market capitalization of $712.94 million, a PE ratio of -6.12 and a beta of -0.03. The business’s fifty day moving average is $5.26 and its two-hundred day moving average is $6.25.

NioCorp Developments (NASDAQ:NB) last released its quarterly earnings data on Friday, February 6th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.88) by $0.83. As a group, equities research analysts anticipate that NioCorp Developments Ltd. will post -0.34 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Global Retirement Partners LLC bought a new stake in shares of NioCorp Developments during the 3rd quarter valued at $31,000. Russell Investments Group Ltd. bought a new stake in NioCorp Developments during the third quarter valued at about $40,000. Jones Financial Companies Lllp increased its position in NioCorp Developments by 131.9% in the third quarter. Jones Financial Companies Lllp now owns 7,183 shares of the company’s stock worth $49,000 after buying an additional 4,085 shares in the last quarter. Legal & General Group Plc raised its stake in shares of NioCorp Developments by 31.6% in the third 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 during the period. Finally, Pittenger & Anderson Inc. lifted 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 buying an additional 3,275 shares in the last quarter. 4.03% of the stock is currently owned by institutional investors.

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.