NioCorp Developments (NASDAQ:NB) Sets New 12-Month High - What's Next?

Key Points

• NioCorp Developments' stock reached a new 12-month high, trading at $8.10 and closing at $7.92, significantly up from the previous close of $6.76, with a trading volume of over 5 million shares.
• Analysts have set varied price targets for the stock, with Maxim Group increasing their target from $4.00 to $5.00 and HC Wainwright raising it to $8.25, while the stock maintains an overall consensus rating of "Buy".
• Institutional investors have recently increased their stake in NioCorp, with several firms purchasing new positions valued between $25,000 and $36,000 during the second quarter.

NioCorp Developments Ltd. (NASDAQ:NB - Get Free Report)'s share price reached a new 52-week high during trading on Friday . The stock traded as high as $8.10 and last traded at $7.92, with a volume of 5242088 shares trading hands. The stock had previously closed at $6.76.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on NB shares. Maxim Group increased their target price on NioCorp Developments from $4.00 to $5.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Weiss Ratings reissued a "sell (d-)" rating on shares of NioCorp Developments in a research report on Saturday, September 27th. Finally, HC Wainwright raised their price target on shares of NioCorp Developments from $4.00 to $8.25 and gave the stock a "buy" rating in a research report on Monday, September 22nd. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $6.63.

NioCorp Developments Price Performance

The company has a fifty day moving average price of $4.73 and a 200 day moving average price of $3.29. The company has a market cap of $609.64 million, a PE ratio of -22.96 and a beta of -0.18.

NioCorp Developments (NASDAQ:NB - Get Free Report) last announced its quarterly earnings data on Friday, July 11th. The company reported ($0.16) EPS for the quarter. NioCorp Developments has set its FY 2025 guidance at -0.350--0.350 EPS. As a group, sell-side analysts predict that NioCorp Developments Ltd. will post -0.34 EPS for the current fiscal year.

Hedge Funds Weigh In On NioCorp Developments

Hedge funds and other institutional investors have recently modified their holdings of the company. ProShare Advisors LLC bought a new position in NioCorp Developments during the 2nd quarter valued at approximately $25,000. KPP Advisory Services LLC purchased a new stake in NioCorp Developments in the second quarter worth $25,000. Wealth Enhancement Advisory Services LLC bought a new stake in NioCorp Developments in the second quarter valued at $27,000. Police & Firemen s Retirement System of New Jersey purchased a new position in NioCorp Developments during the 2nd quarter valued at $30,000. Finally, Blue Capital Inc. bought a new position in NioCorp Developments in the 2nd quarter worth $36,000. 4.03% of the stock is owned by institutional investors.

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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