NioCorp Developments Ltd. (NASDAQ:NB - Get Free Report)'s stock price traded down 12.2% on Tuesday . The company traded as low as $2.58 and last traded at $2.59. 1,492,483 shares were traded during trading, an increase of 372% from the average session volume of 316,475 shares. The stock had previously closed at $2.95.
Wall Street Analyst Weigh In
A number of analysts have weighed in on the stock. Maxim Group assumed coverage on shares of NioCorp Developments in a report on Wednesday, January 8th. They set a "buy" rating and a $4.00 target price on the stock. HC Wainwright dropped their target price on shares of NioCorp Developments from $8.50 to $3.25 and set a "buy" rating on the stock in a report on Monday, January 13th.
Read Our Latest Stock Analysis on NioCorp Developments
NioCorp Developments Trading Up 2.3 %
The stock has a market capitalization of $127.34 million, a P/E ratio of -3.53 and a beta of -0.33. The company's 50-day moving average is $2.19 and its two-hundred day moving average is $1.88.
NioCorp Developments (NASDAQ:NB - Get Free Report) last issued its quarterly earnings data on Tuesday, February 11th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.02. Sell-side analysts expect that NioCorp Developments Ltd. will post -0.34 EPS for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. Northern Trust Corp acquired a new stake in NioCorp Developments in the fourth quarter worth approximately $980,000. Jane Street Group LLC acquired a new stake in NioCorp Developments in the fourth quarter worth approximately $359,000. Finally, Virtu Financial LLC lifted its position in NioCorp Developments by 158.0% in the fourth quarter. Virtu Financial LLC now owns 34,355 shares of the company's stock worth $53,000 after purchasing an additional 21,038 shares during the period. 4.03% of the stock is currently owned by institutional investors.
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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