NioCorp Developments (NB) to Release Quarterly Earnings on Friday

NioCorp Developments (NASDAQ:NB) is projected to release its results before the market opens on Friday, February 6th. Analysts expect NioCorp Developments to post earnings of ($0.88) per share for the quarter.

NioCorp Developments (NASDAQ:NB) last announced its quarterly earnings data on Thursday, September 11th. The company reported ($0.19) earnings per share (EPS) for the quarter. On average, analysts expect NioCorp Developments to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

NioCorp Developments Trading Up 21.8%

NASDAQ NB opened at $7.50 on Wednesday. NioCorp Developments has a 12 month low of $1.59 and a 12 month high of $12.58. The stock has a 50 day moving average of $6.27 and a 200-day moving average of $5.97. The company has a market cap of $922.28 million, a PE ratio of -9.15 and a beta of -0.14.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of NioCorp Developments in a research report on Thursday, January 22nd. Loop Capital set a $8.70 target price on NioCorp Developments in a report on Wednesday, January 7th. HC Wainwright raised their price target on NioCorp Developments from $9.50 to $11.25 and gave the company a “buy” rating in a report on Tuesday, January 13th. Finally, William Blair initiated coverage on shares of 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 data from MarketBeat.com, NioCorp Developments currently has an average rating of “Moderate Buy” and a consensus target price of $8.32.

Hedge Funds Weigh In On NioCorp Developments

Institutional investors and hedge funds have recently modified their holdings of the business. Legal & General Group Plc raised its stake in NioCorp Developments by 31.6% in the 3rd quarter. Legal & General Group Plc now owns 7,584 shares of the company’s stock worth $51,000 after purchasing an additional 1,822 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of NioCorp Developments by 17.5% during the third quarter. JPMorgan Chase & Co. now owns 28,831 shares of the company’s stock worth $193,000 after purchasing an additional 4,298 shares during the period. Russell Investments Group Ltd. acquired a new stake in shares of NioCorp Developments in the third quarter valued at approximately $40,000. Creative Planning boosted its stake in shares of NioCorp Developments by 28.4% in the third quarter. Creative Planning now owns 31,306 shares of the company’s stock valued at $209,000 after buying an additional 6,924 shares during the period. Finally, NewEdge Advisors LLC grew its position in NioCorp Developments by 31.3% during the third quarter. NewEdge Advisors LLC now owns 33,931 shares of the company’s stock worth $227,000 after buying an additional 8,092 shares in the last quarter. 4.03% of the stock is currently owned by institutional investors and hedge funds.

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.