Alps Advisors Inc. Purchases 280,752 Shares of NioCorp Developments Ltd. $NB

Alps Advisors Inc. grew its position in shares of NioCorp Developments Ltd. (NASDAQ:NB) by 42.1% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 948,370 shares of the company’s stock after buying an additional 280,752 shares during the quarter. Alps Advisors Inc.’s holdings in NioCorp Developments were worth $3,414,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NB. CenterBook Partners LP bought a new position in NioCorp Developments in the 3rd quarter valued at $4,588,000. Victory Financial Group LLC boosted its holdings in shares of NioCorp Developments by 23.6% in the 3rd quarter. Victory Financial Group LLC now owns 15,735 shares of the company’s stock worth $57,000 after buying an additional 3,000 shares during the last quarter. CPR Investments Inc. purchased a new position in shares of NioCorp Developments in the 3rd quarter worth about $39,000. Abel Hall LLC purchased a new position in shares of NioCorp Developments in the 3rd quarter worth about $71,000. Finally, Vontobel Holding Ltd. grew its position in NioCorp Developments by 102.4% during the third quarter. Vontobel Holding Ltd. now owns 45,864 shares of the company’s stock valued at $165,000 after buying an additional 23,200 shares during the period. Hedge funds and other institutional investors own 4.03% of the company’s stock.

NioCorp Developments Stock Up 12.8%

NASDAQ:NB opened at $3.27 on Tuesday. NioCorp Developments Ltd. has a twelve month low of $2.59 and a twelve month high of $8.18. The business’s 50-day moving average price is $3.46 and its two-hundred day moving average price is $4.79.

NioCorp Developments (NASDAQ:NB) last issued its quarterly earnings results on Thursday, November 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.03). On average, analysts expect that NioCorp Developments Ltd. will post -0.28 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NB. Zacks Research upgraded shares of NioCorp Developments from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 14th. Jefferies Financial Group assumed coverage on shares of NioCorp Developments in a research note on Wednesday, September 2nd. They issued a “hold” rating and a $4.70 target price on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of NioCorp Developments in a research report on Thursday, October 15th. HC Wainwright restated a “buy” rating on shares of NioCorp Developments in a research note on Wednesday, July 15th. Finally, Texas Capital raised shares of NioCorp Developments to a “strong-buy” rating in a report on Tuesday, October 20th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $8.85.

About NioCorp Developments

NioCorp Developments Ltd. is a mineral-development company focused on advancing the Elk Creek Critical Minerals Project in southeastern Nebraska. The proposed project is designed to produce niobium, scandium and titanium, along with potential rare earth products, from a carbonatite ore body. These minerals are used in applications such as high-strength steel, aerospace components, lightweight alloys, permanent magnets and other advanced technologies.

NioCorp is focused on permitting, project financing, engineering and development rather than operating a producing mine.