Pitcairn Co. Invests $29,000 in NioCorp Developments Ltd. (NASDAQ:NB)

Pitcairn Co. bought a new position in shares of NioCorp Developments Ltd. (NASDAQ:NB) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 10,802 shares of the company’s stock, valued at approximately $29,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC bought a new stake in NioCorp Developments in the fourth quarter valued at about $41,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of NioCorp Developments during the fourth quarter worth about $46,000. Finally, Vanguard Group Inc. boosted its position in shares of NioCorp Developments by 529.0% during the first quarter. Vanguard Group Inc. now owns 734,425 shares of the company’s stock worth $1,998,000 after buying an additional 617,664 shares during the period. Institutional investors own 4.03% of the company’s stock.

Wall Street Analyst Weigh In

Separately, HC Wainwright reduced their price target on NioCorp Developments from $12.00 to $8.50 and set a “buy” rating for the company in a research report on Wednesday, May 22nd.

NioCorp Developments Trading Down 1.1 %

Shares of NASDAQ NB opened at $1.73 on Friday. NioCorp Developments Ltd. has a 1-year low of $1.62 and a 1-year high of $5.20. The business’s 50 day moving average is $1.99 and its 200-day moving average is $2.46.

NioCorp Developments (NASDAQ:NB) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($0.11) earnings per share (EPS) for the quarter. On average, sell-side analysts forecast that NioCorp Developments Ltd. will post -0.35 earnings per share for the current fiscal year.

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.