NioCorp Developments (NASDAQ:NB - Free Report) had its target price cut by HC Wainwright from $4.25 to $4.00 in a report released on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.
NioCorp Developments Price Performance
NB traded up $0.09 during mid-day trading on Thursday, hitting $2.43. The stock had a trading volume of 309,425 shares, compared to its average volume of 464,815. The stock's fifty day simple moving average is $2.51 and its 200-day simple moving average is $2.19. The firm has a market capitalization of $135.10 million, a price-to-earnings ratio of -3.11 and a beta of -0.37. NioCorp Developments has a 1-year low of $1.27 and a 1-year high of $4.15.
NioCorp Developments (NASDAQ:NB - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.08). As a group, research analysts expect that NioCorp Developments will post -0.34 earnings per share for the current fiscal year.
Institutional Trading of NioCorp Developments
Large investors have recently bought and sold shares of the business. Virtu Financial LLC increased its holdings in NioCorp Developments by 158.0% during the 4th quarter. Virtu Financial LLC now owns 34,355 shares of the company's stock worth $53,000 after purchasing an additional 21,038 shares in the last quarter. Northern Trust Corp bought a new position in shares of NioCorp Developments during the fourth quarter worth about $980,000. Jane Street Group LLC acquired a new stake in NioCorp Developments in the 4th quarter valued at approximately $359,000. PFG Advisors raised its position in NioCorp Developments by 384.2% in the 1st 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. Finally, CreativeOne Wealth LLC lifted 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 valued at $59,000 after acquiring an additional 12,946 shares in the last quarter. 4.03% of the stock is owned by institutional investors.
About NioCorp Developments
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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.
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