Edison Inv. Res Comments on NioCorp Developments Ltd.’s FY2024 Earnings (NASDAQ:NB)

NioCorp Developments Ltd. (NASDAQ:NB) – Investment analysts at Edison Inv. Res reduced their FY2024 EPS estimates for NioCorp Developments in a research report issued to clients and investors on Monday, June 17th. Edison Inv. Res analyst C. Gibson now forecasts that the company will earn ($0.31) per share for the year, down from their previous forecast of ($0.11). The consensus estimate for NioCorp Developments’ current full-year earnings is ($0.25) per share. Edison Inv. Res also issued estimates for NioCorp Developments’ FY2025 earnings at ($0.11) EPS, FY2026 earnings at ($0.08) EPS, FY2027 earnings at ($0.14) EPS and FY2028 earnings at $0.66 EPS.

Separately, HC Wainwright reduced their price objective on shares of NioCorp Developments from $12.00 to $8.50 and set a “buy” rating on the stock in a research note on Wednesday, May 22nd.

NioCorp Developments Stock Performance

Shares of NB opened at $1.91 on Wednesday. The company has a market capitalization of $69.68 million, a price-to-earnings ratio of -5.16 and a beta of -0.29. The company’s 50 day simple moving average is $2.36 and its 200 day simple moving average is $2.69. NioCorp Developments has a 1 year low of $1.89 and a 1 year high of $5.40.

NioCorp Developments (NASDAQ:NB) last announced its quarterly earnings data on Thursday, May 2nd. The company reported ($0.11) earnings per share (EPS) for the quarter.

Institutional Investors Weigh In On NioCorp Developments

Several large investors have recently made changes to their positions in the business. Pitcairn Co. acquired a new stake in NioCorp Developments during the 1st quarter valued at $29,000. SG Americas Securities LLC acquired a new stake in NioCorp Developments during the 4th quarter valued at $41,000. Dynamic Technology Lab Private Ltd acquired a new stake in NioCorp Developments during the 4th quarter valued at $46,000. Moss Adams Wealth Advisors LLC acquired a new stake in NioCorp Developments during the 3rd quarter valued at $53,000. Finally, EP Wealth Advisors LLC grew its holdings in NioCorp Developments by 106.4% during the 3rd quarter. EP Wealth Advisors LLC now owns 21,000 shares of the company’s stock valued at $76,000 after purchasing an additional 10,824 shares in the last quarter. Institutional investors and hedge funds own 4.03% of the company’s stock.

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.