NioCorp Developments Ltd. (NASDAQ:NB - Get Free Report) shares rose 7.7% on Monday . The stock traded as high as $4.91 and last traded at $4.9850. Approximately 2,559,173 shares traded hands during trading, a decline of 51% from the average daily volume of 5,202,854 shares. The stock had previously closed at $4.63.
Analysts Set New Price Targets
NB has been the subject of a number of research reports. Weiss Ratings restated a "sell (d-)" rating on shares of NioCorp Developments in a research note on Thursday, January 22nd. Zacks Research downgraded NioCorp Developments from a "strong-buy" rating to a "hold" rating in a report on Friday, March 13th. HC Wainwright boosted their price objective on NioCorp Developments from $9.50 to $11.25 and gave the company a "buy" rating in a research report on Tuesday, January 13th. Finally, Loop Capital set a $8.70 price objective on NioCorp Developments in a research note on Wednesday, January 7th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $8.32.
View Our Latest Analysis on NB
NioCorp Developments Stock Up 7.5%
The firm's 50 day simple moving average is $5.40 and its 200 day simple moving average is $6.28. The company has a market cap of $710.08 million, a price-to-earnings ratio of -6.14 and a beta of -0.03.
NioCorp Developments (NASDAQ:NB - Get Free Report) last issued its quarterly earnings data on Friday, February 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.88) by $0.84. Analysts anticipate that NioCorp Developments Ltd. will post -0.34 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of NB. Brevan Howard Capital Management LP bought a new position in NioCorp Developments in the 3rd quarter valued at about $9,690,000. HITE Hedge Asset Management LLC bought a new stake in shares of NioCorp Developments during the 3rd quarter worth about $9,770,000. Harfst & Associates Inc. bought a new stake in shares of NioCorp Developments during the 3rd quarter worth about $700,000. PFG Advisors acquired a new stake in shares of NioCorp Developments in the 3rd quarter worth approximately $1,224,000. Finally, Greenspring Advisors LLC acquired a new stake in shares of NioCorp Developments in the 3rd quarter worth approximately $79,000. Institutional investors own 4.03% of the company's stock.
NioCorp Developments Company Profile
(
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NioCorp Developments Ltd is a North American critical minerals development company focused on advancing its flagship Elk Creek Critical Minerals Project in southeastern Nebraska. The company’s primary business activity centers on the exploration, evaluation and development of a polymetallic deposit that hosts significant quantities of niobium, scandium and titanium. Through metallurgical testing and prefeasibility studies, NioCorp aims to produce high-purity ferroniobium, high-purity titanium dioxide slag and scandium oxide for industrial, aerospace and clean-energy applications.
At the heart of NioCorp’s operations is the Elk Creek project, where the company holds surface rights and mineral leases across approximately 7,100 acres of land.
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