HC Wainwright Forecasts Strong Price Appreciation for NioCorp Developments (NASDAQ:NB) Stock

by · The Markets Daily

NioCorp Developments (NASDAQ:NB – Get Free Report) had its price target lifted by stock analysts at HC Wainwright from $8.25 to $9.50 in a report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s target price indicates a potential upside of 45.93% from the stock’s previous close.

NB has been the topic of several other research reports. William Blair began coverage on shares of NioCorp Developments in a research report on Monday, October 20th. They set an “outperform” rating on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of NioCorp Developments in a research note on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $7.25.

Check Out Our Latest Analysis on NB

NioCorp Developments Trading Down 5.9%

NioCorp Developments stock opened at $6.51 on Monday. The stock has a 50-day moving average price of $7.20 and a 200 day moving average price of $4.90. NioCorp Developments has a 52 week low of $1.36 and a 52 week high of $12.58. The stock has a market cap of $777.03 million, a PE ratio of -7.94 and a beta of -0.16.

NioCorp Developments (NASDAQ:NB – Get Free Report) last released its earnings results on Thursday, September 11th. The company reported ($0.19) earnings per share (EPS) for the quarter. On average, equities analysts predict that NioCorp Developments will post -0.34 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Global Retirement Partners LLC acquired a new position in shares of NioCorp Developments during the third quarter worth about $31,000. Russell Investments Group Ltd. bought a new position in shares of NioCorp Developments during the third quarter worth about $40,000. Jones Financial Companies Lllp grew its position in shares of NioCorp Developments by 131.9% in the 3rd quarter. Jones Financial Companies Lllp now owns 7,183 shares of the company’s stock worth $49,000 after acquiring an additional 4,085 shares in the last quarter. Legal & General Group Plc boosted its holdings in 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 purchasing an additional 1,822 shares during the period. Finally, IFP Advisors Inc grew its position in shares of NioCorp Developments by 7,838.0% during the 3rd quarter. IFP Advisors Inc now owns 7,938 shares of the company’s stock valued at $53,000 after buying an additional 7,838 shares during the last quarter. Hedge funds and other institutional investors own 4.03% of the company’s stock.

NioCorp Developments Company Profile

(Get Free Report)

NioCorp Developments Ltd. engages in the exploration and development of mineral deposits in North America. It owns and develops the Elk Creek niobium/scandium/titanium project that owns one 226.43-acre parcel of land and associated mineral rights, and an additional 40 acres of mineral rights, as well as an optioned land package that covers an area of 1,396 acres located in Johnson County, southeast Nebraska.

Further Reading