NioCorp Developments Ltd. (NASDAQ:NB - Get Free Report) shares saw an uptick in trading volume on Thursday . 1,892,158 shares changed hands during mid-day trading, a decline of 9% from the previous session's volume of 2,069,745 shares.The stock last traded at $6.72 and had previously closed at $6.58.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on the company. HC Wainwright upped their price target on NioCorp Developments from $4.00 to $8.25 and gave the company a "buy" rating in a research report on Monday, September 22nd. Maxim Group upped their target price on shares of NioCorp Developments from $4.00 to $5.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $6.63.
Check Out Our Latest Stock Report on NioCorp Developments
NioCorp Developments Stock Performance
The stock has a market cap of $523.79 million, a P/E ratio of -19.75 and a beta of -0.19. The company has a 50-day simple moving average of $4.66 and a 200-day simple moving average of $3.26.
NioCorp Developments (NASDAQ:NB - Get Free Report) last announced its 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. As a group, sell-side analysts expect that NioCorp Developments Ltd. will post -0.34 earnings per share for the current fiscal year.
Hedge Funds Weigh In On NioCorp Developments
Several large investors have recently made changes to their positions in NB. Private Management Group Inc. bought a new position in NioCorp Developments in the second quarter valued at approximately $4,890,000. Armistice Capital LLC bought a new position in NioCorp Developments in the first quarter valued at approximately $2,573,000. Geode Capital Management LLC boosted its stake in NioCorp Developments by 2,376.5% in the 2nd quarter. Geode Capital Management LLC now owns 644,182 shares of the company's stock worth $1,501,000 after purchasing an additional 618,170 shares during the period. PFG Advisors boosted its position in shares of NioCorp Developments by 384.2% during the first quarter. PFG Advisors now owns 181,168 shares of the company's stock worth $357,000 after buying an additional 143,750 shares during the period. Finally, Marshall Wace LLP grew its stake in shares of NioCorp Developments by 111.3% during the 2nd quarter. Marshall Wace LLP now owns 159,790 shares of the company's stock worth $372,000 after acquiring an additional 84,176 shares in the last quarter. Institutional investors and hedge funds own 4.03% of the company's stock.
NioCorp Developments Company Profile
(
Get Free Report)
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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