Private Management Group Inc. Takes Position in NioCorp Developments Ltd. $NB

Private Management Group Inc. acquired a new stake in NioCorp Developments Ltd. (NASDAQ:NB) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,098,563 shares of the company’s stock, valued at approximately $4,890,000. Private Management Group Inc. owned approximately 3.57% of NioCorp Developments as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NB. Armistice Capital LLC acquired a new position in NioCorp Developments in the 1st quarter valued at about $2,573,000. Geode Capital Management LLC raised its position in shares of NioCorp Developments by 2,376.5% in the second quarter. Geode Capital Management LLC now owns 644,182 shares of the company’s stock valued at $1,501,000 after buying an additional 618,170 shares during the last quarter. PFG Advisors raised its position in shares of NioCorp Developments by 384.2% in the first quarter. PFG Advisors now owns 181,168 shares of the company’s stock valued at $357,000 after buying an additional 143,750 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of NioCorp Developments during the second quarter valued at approximately $205,000. Finally, CreativeOne Wealth LLC grew its stake in NioCorp Developments by 76.0% in the 1st quarter. CreativeOne Wealth LLC now owns 29,983 shares of the company’s stock worth $59,000 after acquiring an additional 12,946 shares during the period. Hedge funds and other institutional investors own 4.03% of the company’s stock.

Analyst Upgrades and Downgrades

NB has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NioCorp Developments in a research note on Wednesday, October 8th. HC Wainwright upped their price target on shares of NioCorp Developments from $4.00 to $8.25 and gave the stock a “buy” rating in a research report on Monday, September 22nd. Finally, William Blair initiated coverage on shares of NioCorp Developments in a research note on Monday, October 20th. They set an “outperform” rating on the stock. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $6.63.

NioCorp Developments Trading Down 0.8%

Shares of NioCorp Developments stock opened at $5.18 on Friday. The company has a fifty day moving average price of $7.21 and a 200 day moving average price of $4.63. NioCorp Developments Ltd. has a twelve month low of $1.30 and a twelve month high of $12.58. The stock has a market cap of $402.80 million, a price-to-earnings ratio of -6.32 and a beta of -0.17.

NioCorp Developments (NASDAQ:NB) last released its quarterly earnings results on Thursday, September 11th. The company reported ($0.19) earnings per share for the quarter. Analysts forecast that NioCorp Developments Ltd. will post -0.34 earnings per share for the current year.

NioCorp Developments Company Profile

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.