NioCorp Developments (NASDAQ:NB) Given New $11.25 Price Target at HC Wainwright

NioCorp Developments (NASDAQ:NB) had its price target raised by stock analysts at HC Wainwright from $9.50 to $11.25 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price target would suggest a potential upside of 63.04% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of NioCorp Developments in a research report on Wednesday, October 8th. Loop Capital set a $8.70 target price on NioCorp Developments in a research note on Wednesday, January 7th. Finally, William Blair assumed coverage on NioCorp Developments in a research report on Monday, October 20th. They set an “outperform” rating for the company. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $8.32.

NioCorp Developments Price Performance

Shares of NioCorp Developments stock opened at $6.90 on Tuesday. The stock has a market capitalization of $823.58 million, a P/E ratio of -8.41 and a beta of -0.14. NioCorp Developments has a one year low of $1.49 and a one year high of $12.58. The business’s 50 day simple moving average is $5.97 and its two-hundred day simple moving average is $5.53.

NioCorp Developments (NASDAQ:NB) last issued its earnings results on Thursday, September 11th. The company reported ($0.19) earnings per share (EPS) for the quarter. Sell-side analysts expect that NioCorp Developments will post -0.34 earnings per share for the current fiscal year.

Institutional Trading of NioCorp Developments

A number of institutional investors have recently modified their holdings of NB. Wealth Enhancement Advisory Services LLC purchased a new position in shares of NioCorp Developments in the second quarter worth $27,000. KPP Advisory Services LLC acquired a new position in shares of NioCorp Developments in the 2nd quarter valued at $25,000. Bank of Montreal Can increased its position in shares of NioCorp Developments by 62.7% in the 2nd quarter. Bank of Montreal Can now owns 17,955 shares of the company’s stock valued at $42,000 after acquiring an additional 6,920 shares during the period. ProShare Advisors LLC purchased a new position in NioCorp Developments in the 2nd quarter worth $25,000. Finally, Geode Capital Management LLC lifted its position in NioCorp Developments by 2,376.5% during the 2nd quarter. Geode Capital Management LLC now owns 644,182 shares of the company’s stock worth $1,501,000 after acquiring an additional 618,170 shares during the period. 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.