NioCorp Developments (NASDAQ:NB – Get Free Report) issued its earnings results on Friday. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02, FiscalAI reports.
NioCorp Developments Stock Performance
Shares of NB stock opened at $3.54 on Friday. NioCorp Developments has a 52 week low of $3.40 and a 52 week high of $12.58. The stock has a market capitalization of $515.39 million, a PE ratio of -5.21 and a beta of 0.25. The stock’s fifty day moving average is $4.29 and its 200-day moving average is $4.87.
Wall Street Analyst Weigh In
Several research firms have issued reports on NB. HC Wainwright reiterated a “buy” rating on shares of NioCorp Developments in a research note on Wednesday, July 15th. B. Riley Financial started coverage on shares of NioCorp Developments in a research note on Tuesday, June 9th. They issued a “buy” rating and a $12.00 target price on the stock. Wall Street Zen lowered shares of NioCorp Developments from a “sell” rating to a “strong sell” rating in a report on Saturday. Weiss Ratings reiterated a “sell (d-)” rating on shares of NioCorp Developments in a research report on Friday, July 17th. Finally, Jefferies Financial Group assumed coverage on shares of NioCorp Developments in a research report on Wednesday, September 2nd. They issued a “hold” rating and a $4.70 price target on the stock. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $8.85.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Gratia Capital LLC bought a new position in shares of NioCorp Developments in the second quarter worth about $1,976,000. Blue Capital Inc. bought a new stake in shares of NioCorp Developments during the second quarter valued at approximately $127,000. Bank of New York Mellon Corp acquired a new stake in shares of NioCorp Developments in the second quarter valued at approximately $1,988,000. Allen Capital Group LLC increased its holdings in shares of NioCorp Developments by 15.8% in the first quarter. Allen Capital Group LLC now owns 19,718 shares of the company’s stock valued at $88,000 after purchasing an additional 2,690 shares in the last quarter. Finally, Altshuler Shaham Ltd bought a new position in NioCorp Developments in the 1st quarter worth approximately $61,000. Institutional investors and hedge funds own 4.03% of the company’s stock.
About NioCorp Developments
NioCorp Developments Ltd. (NASDAQ:NB) is a development-stage critical minerals company focused on advancing the Elk Creek Project in southeastern Nebraska. The company is evaluating the development of a domestic source of niobium, scandium and titanium, along with certain rare earth elements, including neodymium, praseodymium, dysprosium and terbium.
The proposed Elk Creek operation is designed to process mineralized material into products that could support industries such as transportation, aerospace, defense, electronics and clean energy.
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