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

Key Points

• NioCorp Developments experienced a significant increase in trading volume, with 4.5 million shares exchanged on a recent trading day, marking a 45% rise from the previous session.
• The stock has a current average rating of "Moderate Buy" based on analyst evaluations, with price targets ranging from $5.00 to $8.25, indicating mixed sentiments among analysts.
• Institutional interest in NioCorp has grown, with several hedge funds purchasing new stakes in the company during the second and third quarters of this year.

Shares of NioCorp Developments Ltd. (NASDAQ:NB - Get Free Report) saw an uptick in trading volume on Wednesday . 4,534,469 shares traded hands during trading, an increase of 45% from the previous session's volume of 3,120,909 shares.The stock last traded at $8.29 and had previously closed at $8.43.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NB. Weiss Ratings restated a "sell (d-)" rating on shares of NioCorp Developments in a report on Wednesday, October 8th. Maxim Group boosted their price target on NioCorp Developments from $4.00 to $5.00 and gave the stock a "buy" rating in a report on Friday, July 11th. William Blair began coverage on NioCorp Developments in a report on Monday. They issued an "outperform" rating on the stock. Finally, HC Wainwright upped their target price on NioCorp Developments from $4.00 to $8.25 and gave the company a "buy" rating in a report on Monday, September 22nd. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $6.63.

NioCorp Developments Stock Down 9.1%

The business has a 50-day moving average price of $6.23 and a two-hundred day moving average price of $3.96. The company has a market capitalization of $595.93 million, a price-to-earnings ratio of -22.62 and a beta of -0.18.

Hedge Funds Weigh In On NioCorp Developments

Institutional investors have recently modified their holdings of the company. ProShare Advisors LLC purchased a new stake in NioCorp Developments in the 2nd quarter valued at $25,000. KPP Advisory Services LLC purchased a new stake in NioCorp Developments in the 2nd quarter valued at $25,000. Wealth Enhancement Advisory Services LLC purchased a new stake in NioCorp Developments in the 2nd quarter valued at $27,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in NioCorp Developments in the 2nd quarter valued at $30,000. Finally, Global Retirement Partners LLC purchased a new stake in NioCorp Developments in the 3rd quarter valued at $31,000. 4.03% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.