NioCorp Developments (NASDAQ:NB) Price Target Cut to $4.00 by Analysts at HC Wainwright

NioCorp Developments (NASDAQ:NB) had its target price reduced by HC Wainwright from $4.25 to $4.00 in a report published on Thursday,Benzinga reports. They currently have a buy rating on the stock.

NioCorp Developments Trading Up 3.6%

NB stock opened at $2.43 on Thursday. NioCorp Developments has a twelve month low of $1.27 and a twelve month high of $4.15. The company has a market capitalization of $135.10 million, a P/E ratio of -3.11 and a beta of -0.37. The firm has a 50 day simple moving average of $2.51 and a 200-day simple moving average of $2.19.

NioCorp Developments (NASDAQ:NB) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.08). On average, research analysts predict that NioCorp Developments will post -0.34 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Armistice Capital LLC acquired a new stake in shares of NioCorp Developments in the first quarter valued at about $2,573,000. Northern Trust Corp acquired a new stake in NioCorp Developments in the 4th quarter valued at approximately $980,000. Jane Street Group LLC acquired a new stake in NioCorp Developments in the 4th quarter valued at approximately $359,000. PFG Advisors increased its position in NioCorp Developments by 384.2% in the 1st quarter. PFG Advisors now owns 181,168 shares of the company’s stock worth $357,000 after buying an additional 143,750 shares during the period. Finally, Virtu Financial LLC lifted its holdings in shares of NioCorp Developments by 158.0% during the fourth quarter. Virtu Financial LLC now owns 34,355 shares of the company’s stock worth $53,000 after buying an additional 21,038 shares during the last quarter. 4.03% of the stock is owned by institutional investors and hedge funds.

About NioCorp Developments

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.