NioCorp Developments (NASDAQ:NB) Sees Large Volume Increase - Should You Buy?

Key Points

• NioCorp Developments (NASDAQ:NB) experienced a large volume increase in trading, with approximately 2 million shares changing hands despite a 13% decline from the previous session.
• Wall Street analysts have differing views, with one analyst upgrading the stock's target price to $8.25 and others maintaining a "sell" rating, leading to a consensus rating of "Hold."
• The company reported quarterly earnings of ($0.16) EPS and anticipates a full-year EPS of ($0.34) for the current fiscal year.

Shares of NioCorp Developments Ltd. (NASDAQ:NB - Get Free Report) saw unusually-strong trading volume on Wednesday . Approximately 2,012,021 shares traded hands during trading, a decline of 13% from the previous session's volume of 2,305,188 shares.The stock last traded at $9.08 and had previously closed at $9.10.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on NB shares. Maxim Group upped their price target on shares of NioCorp Developments from $4.00 to $5.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of NioCorp Developments in a report on Wednesday. Finally, HC Wainwright upped their price objective on shares of NioCorp Developments from $4.00 to $8.25 and gave the stock a "buy" rating in a report on Monday, September 22nd. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, NioCorp Developments has a consensus rating of "Hold" and a consensus target price of $6.63.

NioCorp Developments Stock Performance

The company has a market capitalization of $702.17 million, a price-to-earnings ratio of -26.49 and a beta of -0.18. The stock's fifty day simple moving average is $5.06 and its two-hundred day simple moving average is $3.44.

NioCorp Developments (NASDAQ:NB - Get Free Report) last issued its quarterly earnings results on Friday, July 11th. The company reported ($0.16) earnings per share for the quarter. NioCorp Developments has set its FY 2025 guidance at -0.350--0.350 EPS. On average, equities analysts anticipate that NioCorp Developments Ltd. will post -0.34 EPS for the current fiscal year.

Institutional Trading of NioCorp Developments

Institutional investors and hedge funds have recently bought and sold shares of the stock. KPP Advisory Services LLC acquired a new stake in NioCorp Developments during the 2nd quarter worth about $25,000. ProShare Advisors LLC acquired a new stake in NioCorp Developments during the 2nd quarter worth about $25,000. Wealth Enhancement Advisory Services LLC acquired a new stake in NioCorp Developments during the 2nd quarter worth about $27,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in NioCorp Developments during the 2nd quarter worth about $30,000. Finally, Blue Capital Inc. acquired a new stake in NioCorp Developments during the 2nd quarter worth about $36,000. Institutional investors and hedge funds own 4.03% of the company's stock.

NioCorp Developments Company Profile

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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