NioCorp Developments (NASDAQ:NB – Get Free Report) posted its quarterly earnings data on Friday. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.01, FiscalAI reports.
NioCorp Developments Stock Performance
Shares of NioCorp Developments stock remained flat at $3.54 during trading on Friday. 1,579,635 shares of the stock were exchanged, compared to its average volume of 4,168,573. The firm has a 50-day simple moving average of $4.30 and a 200-day simple moving average of $4.88. NioCorp Developments has a 12 month low of $3.40 and a 12 month high of $12.58. The company has a market cap of $515.39 million, a P/E ratio of -5.21 and a beta of 0.25.
Wall Street Analysts Forecast Growth
A number of analysts have issued reports on NB shares. Wall Street Zen downgraded NioCorp Developments from a “hold” rating to a “sell” rating in a research report on Saturday, July 4th. Weiss Ratings restated a “sell (d-)” rating on shares of NioCorp Developments in a research note on Friday, July 17th. B. Riley Financial began coverage on NioCorp Developments in a research report on Tuesday, June 9th. They set a “buy” rating and a $12.00 target price on the stock. Jefferies Financial Group assumed coverage on NioCorp Developments in a research note on Wednesday, September 2nd. They set a “hold” rating and a $4.70 price objective on the stock. Finally, HC Wainwright reaffirmed a “buy” rating on shares of NioCorp Developments in a report on Wednesday, July 15th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, NioCorp Developments presently has an average rating of “Hold” and an average target price of $8.85.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in NB. Sound Income Strategies LLC purchased a new position in NioCorp Developments during the 1st quarter valued at $25,000. Maltin Wealth Management Inc. purchased a new stake in NioCorp Developments in the first quarter worth $45,000. Ironwood Wealth Management LLC. bought a new position in shares of NioCorp Developments in the 1st quarter worth about $49,000. Talon Private Wealth LLC purchased a new position in NioCorp Developments during the 1st quarter valued at about $53,000. Finally, Brookstone Capital Management purchased a new position in shares of NioCorp Developments during the first quarter valued at approximately $56,000. 4.03% of the stock is owned by hedge funds and other institutional investors.
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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