Quantinno Capital Management LP Invests $694,000 in NioCorp Developments Ltd. $NB

Quantinno Capital Management LP bought a new position in shares of NioCorp Developments Ltd. (NASDAQ:NB) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 155,554 shares of the company’s stock, valued at approximately $694,000. Quantinno Capital Management LP owned 0.11% of NioCorp Developments as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its stake in NioCorp Developments by 2,376.5% in the second quarter. Geode Capital Management LLC now owns 644,182 shares of the company’s stock worth $1,501,000 after acquiring an additional 618,170 shares during the last quarter. Creative Planning purchased a new stake in shares of NioCorp Developments in the 2nd quarter valued at approximately $57,000. JPMorgan Chase & Co. raised its holdings in shares of NioCorp Developments by 48,003.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 24,533 shares of the company’s stock valued at $57,000 after purchasing an additional 24,482 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of NioCorp Developments in the 2nd quarter valued at $75,000. Finally, New York State Common Retirement Fund purchased a new stake in shares of NioCorp Developments during the 2nd quarter worth $85,000. Institutional investors and hedge funds own 4.03% of the company’s stock.

Analyst Ratings Changes

NB has been the subject of a number of analyst reports. Zacks Research downgraded shares of NioCorp Developments from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. B. Riley Financial started coverage on NioCorp Developments in a research report on Tuesday, June 9th. They set a “buy” rating and a $12.00 price objective for the company. HC Wainwright reiterated a “buy” rating on shares of NioCorp Developments in a report on Wednesday, July 15th. Weiss Ratings restated a “sell (d-)” rating on shares of NioCorp Developments in a research note on Friday, July 17th. Finally, Wall Street Zen lowered shares of NioCorp Developments from a “hold” rating to a “sell” rating in a research note on Saturday, July 4th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, NioCorp Developments presently has an average rating of “Hold” and an average price target of $10.23.

NioCorp Developments Price Performance

NASDAQ NB opened at $4.53 on Wednesday. NioCorp Developments Ltd. has a 1 year low of $3.50 and a 1 year high of $12.58. The company has a market capitalization of $659.52 million, a PE ratio of -6.66 and a beta of 0.26. The company has a fifty day moving average of $4.76 and a two-hundred day moving average of $5.21.

NioCorp Developments 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.