NioCorp Developments (NASDAQ:NB) Trading 6.7% Higher - Here's Why

Key Points

• NioCorp Developments Ltd. shares rose by 6.7% to $9.13, with trading volume increasing by 123% compared to the average.
• Analysts have mixed ratings on the stock, with HC Wainwright raising the target price to $8.25 while Weiss Ratings maintains a "sell" rating.
• The company's market capitalization stands at $697.09 million, and it recently reported an EPS of ($0.16) for the last quarter, with a forecast of -0.34 EPS for the current year.

NioCorp Developments Ltd. (NASDAQ:NB - Get Free Report) shares traded up 6.7% during trading on Tuesday . The company traded as high as $9.59 and last traded at $9.13. 5,054,510 shares were traded during trading, an increase of 123% from the average session volume of 2,269,240 shares. The stock had previously closed at $8.56.

Analyst Ratings Changes

Several research firms recently weighed in on NB. HC Wainwright boosted their target price on NioCorp Developments from $4.00 to $8.25 and gave the stock a "buy" rating in a report on Monday, September 22nd. Weiss Ratings reissued a "sell (d-)" rating on shares of NioCorp Developments in a research report on Saturday, September 27th. Finally, Maxim Group lifted their price objective on NioCorp Developments from $4.00 to $5.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, NioCorp Developments currently has an average rating of "Hold" and a consensus target price of $6.63.

NioCorp Developments Trading Up 4.7%

The stock has a market capitalization of $697.09 million, a price-to-earnings ratio of -26.55 and a beta of -0.18. The stock has a fifty day moving average of $4.94 and a two-hundred day moving average of $3.40.

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. Equities analysts expect that NioCorp Developments Ltd. will post -0.34 earnings per share for the current year.

Institutional Investors Weigh In On NioCorp Developments

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

About NioCorp Developments

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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