NioCorp Developments (NASDAQ:NB) Announces Quarterly Earnings Results

NioCorp Developments (NASDAQ:NB) posted its earnings results on Thursday. The company reported ($0.03) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.03), Zacks reports.

NioCorp Developments Trading Up 7.4%

Shares of NB stock traded up $0.20 during trading hours on Friday, hitting $2.90. 2,241,655 shares of the company’s stock were exchanged, compared to its average volume of 3,002,562. The company has a market capitalization of $422.96 million, a PE ratio of -5.37 and a beta of 0.30. NioCorp Developments has a 12-month low of $2.59 and a 12-month high of $8.18. The business’s 50 day simple moving average is $3.48 and its 200-day simple moving average is $4.81.

Analyst Ratings Changes

A number of brokerages have commented on NB. Jefferies Financial Group started coverage on NioCorp Developments in a research note on Wednesday, September 2nd. They issued a “hold” rating and a $4.70 price objective for the company. HC Wainwright reiterated a “buy” rating on shares of NioCorp Developments in a research note on Wednesday, July 15th. Texas Capital raised NioCorp Developments to a “strong-buy” rating in a research report on Tuesday, October 20th. Wall Street Zen downgraded shares of NioCorp Developments from a “sell” rating to a “strong sell” rating in a report on Saturday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NioCorp Developments in a research note on Thursday, October 15th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $8.85.

NioCorp Developments Company Profile

NioCorp Developments Ltd. is a mineral-development company focused on advancing the Elk Creek Critical Minerals Project in southeastern Nebraska. The proposed project is designed to produce niobium, scandium and titanium, along with potential rare earth products, from a carbonatite ore body. These minerals are used in applications such as high-strength steel, aerospace components, lightweight alloys, permanent magnets and other advanced technologies.

NioCorp is focused on permitting, project financing, engineering and development rather than operating a producing mine.