Traders Purchase Large Volume of NioCorp Developments Call Options (NASDAQ:NB)

Key Points

• On Wednesday, NioCorp Developments experienced a significant surge in call options trading, with 7,435 options purchased, marking a 558% increase from the average daily volume.
• NioCorp's stock price rose $0.10 to reach $3.94 during midday trading, with a substantial trading volume of over 7.4 million shares.
• Analysts have set mixed price targets for NioCorp, with HC Wainwright lowering their target to $4.00, while Maxim Group raised theirs to $5.00, both maintaining a "buy" rating.

NioCorp Developments Ltd. (NASDAQ:NB - Get Free Report) was the target of unusually large options trading on Wednesday. Stock traders acquired 7,435 call options on the stock. Thisisanincreaseof558% compared to the typical volume of 1,130 call options.

Institutional Trading of NioCorp Developments

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of Montreal Can raised its holdings in NioCorp Developments by 62.7% in the second quarter. Bank of Montreal Can now owns 17,955 shares of the company's stock worth $42,000 after purchasing an additional 6,920 shares in the last quarter. KPP Advisory Services LLC acquired a new position in shares of NioCorp Developments in the 2nd quarter valued at $25,000. ProShare Advisors LLC acquired a new stake in NioCorp Developments during the 2nd quarter worth about $25,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of NioCorp Developments in the second quarter valued at about $27,000. Finally, CreativeOne Wealth LLC lifted its stake in NioCorp Developments by 76.0% during the 1st quarter. CreativeOne Wealth LLC now owns 29,983 shares of the company's stock valued at $59,000 after acquiring an additional 12,946 shares during the period. 4.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on NB. Maxim Group boosted their price objective on NioCorp Developments from $4.00 to $5.00 and gave the company a "buy" rating in a research report on Friday, July 11th. HC Wainwright cut their price objective on NioCorp Developments from $4.25 to $4.00 and set a "buy" rating for the company in a report on Thursday, July 3rd.

NioCorp Developments Stock Performance

NB traded up $0.39 during midday trading on Friday, reaching $4.63. 4,512,255 shares of the company were exchanged, compared to its average volume of 1,374,510. NioCorp Developments has a one year low of $1.27 and a one year high of $4.87. The company has a market cap of $271.95 million, a price-to-earnings ratio of -13.58 and a beta of -0.35. The company's fifty day moving average price is $2.90 and its 200 day moving average price is $2.48.

NioCorp Developments (NASDAQ:NB - Get Free Report) last announced its quarterly earnings data on Friday, July 11th. The company reported ($0.16) earnings per share for the quarter. As a group, sell-side analysts anticipate that NioCorp Developments will post -0.34 earnings per share for the current fiscal year.

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.