NioCorp Developments Ltd. (NASDAQ:NB) Stock Now Rated “Hold” by Wall Street Analysts

NioCorp Developments Ltd. (NASDAQ:NB) has received an average rating of “Hold” from the six research firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $8.85.

A number of equities analysts recently issued reports on NB shares. Weiss Ratings restated a “sell (d-)” rating on shares of NioCorp Developments in a report on Friday, July 17th. Wall Street Zen lowered shares of NioCorp Developments from a “sell” rating to a “strong sell” rating in a report on Saturday. B. Riley Financial began coverage on shares of NioCorp Developments in a report on Tuesday, June 9th. They issued a “buy” rating and a $12.00 price target on the stock. Jefferies Financial Group started coverage on NioCorp Developments in a research report on Wednesday, September 2nd. They set a “hold” rating and a $4.70 target price on the stock. Finally, HC Wainwright reaffirmed a “buy” rating on shares of NioCorp Developments in a report on Wednesday, July 15th.

NioCorp Developments Stock Performance

NASDAQ:NB opened at $3.54 on Wednesday. The firm has a market capitalization of $515.39 million, a PE ratio of -6.56 and a beta of 0.25. The stock’s fifty day moving average is $4.29 and its 200 day moving average is $4.87. NioCorp Developments has a fifty-two week low of $3.40 and a fifty-two week high of $12.58.

NioCorp Developments (NASDAQ:NB) last posted its quarterly earnings data on Friday, September 25th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.02. Equities analysts forecast that NioCorp Developments will post -0.32 EPS for the current year.

Institutional Investors Weigh In On NioCorp Developments

Hedge funds have recently added to or reduced their stakes in the business. Deltroit Asset Management UK LLP purchased a new stake in shares of NioCorp Developments in the fourth quarter worth about $5,677,000. Bank of New York Mellon Corp acquired a new position in shares of NioCorp Developments during the 2nd quarter worth approximately $1,988,000. Gratia Capital LLC purchased a new position in shares of NioCorp Developments during the 2nd quarter valued at approximately $1,976,000. Quantinno Capital Management LP purchased a new position in shares of NioCorp Developments during the 1st quarter valued at approximately $694,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in NioCorp Developments in the 1st quarter valued at $535,000. 4.03% of the stock is owned by hedge funds and other institutional investors.

About NioCorp Developments

NioCorp Developments Ltd. (NASDAQ:NB) is a development-stage critical minerals company focused on advancing the Elk Creek Project in southeastern Nebraska. The company is evaluating the development of a domestic source of niobium, scandium and titanium, along with certain rare earth elements, including neodymium, praseodymium, dysprosium and terbium.

The proposed Elk Creek operation is designed to process mineralized material into products that could support industries such as transportation, aerospace, defense, electronics and clean energy.