1,071,150 Shares in NioCorp Developments Ltd. $NB Purchased by Deltroit Asset Management UK LLP

Deltroit Asset Management UK LLP purchased a new position in NioCorp Developments Ltd. (NASDAQ:NB) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 1,071,150 shares of the company’s stock, valued at approximately $5,677,000. NioCorp Developments makes up 0.8% of Deltroit Asset Management UK LLP’s portfolio, making the stock its 22nd biggest holding. Deltroit Asset Management UK LLP owned about 0.87% of NioCorp Developments as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Russell Investments Group Ltd. purchased a new stake in NioCorp Developments during the 3rd quarter valued at about $40,000. Jones Financial Companies Lllp grew its position in 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. Legal & General Group Plc grew its position in 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. Pittenger & Anderson Inc. grew its position in 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. Finally, IFP Advisors Inc raised its position in NioCorp Developments by 7,838.0% in the 3rd quarter. IFP Advisors Inc now owns 7,938 shares of the company’s stock worth $53,000 after buying an additional 7,838 shares during the last quarter. 4.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

NioCorp Developments Stock Performance

NB opened at $5.13 on Friday. The stock has a market capitalization of $746.88 million, a P/E ratio of -7.54 and a beta of 0.21. The company’s 50-day simple moving average is $5.50 and its two-hundred day simple moving average is $5.73. NioCorp Developments Ltd. has a 52-week low of $2.17 and a 52-week high of $12.58.

NioCorp Developments (NASDAQ:NB) last posted its earnings results on Thursday, May 14th. The company reported ($0.02) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.02). Research analysts forecast that NioCorp Developments Ltd. will post -0.56 EPS for the current fiscal year.

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.