NioCorp Developments (NASDAQ:NB) Shares Gap Up – Should You Buy?
by Tristan Rich · The Markets DailyNioCorp Developments Ltd. (NASDAQ:NB – Get Free Report) shares gapped up prior to trading on Monday . The stock had previously closed at $5.90, but opened at $6.26. NioCorp Developments shares last traded at $6.38, with a volume of 2,306,106 shares changing hands.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on NB. Weiss Ratings reissued a “sell (d-)” rating on shares of NioCorp Developments in a research report on Thursday, January 22nd. Loop Capital set a $8.70 price target on shares of NioCorp Developments in a report on Wednesday, January 7th. HC Wainwright raised their target price on NioCorp Developments from $9.50 to $11.25 and gave the stock a “buy” rating in a research report on Tuesday, January 13th. Finally, William Blair assumed coverage on NioCorp Developments in a report on Monday, October 20th. They issued an “outperform” rating for the company. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, NioCorp Developments presently has an average rating of “Moderate Buy” and an average target price of $8.32.
Get Our Latest Research Report on NB
NioCorp Developments Stock Performance
The business’s fifty day moving average price is $6.27 and its two-hundred day moving average price is $5.97.
NioCorp Developments (NASDAQ:NB – Get Free Report) last issued its quarterly earnings results on Thursday, September 11th. The company reported ($0.19) EPS for the quarter. On average, sell-side analysts forecast that NioCorp Developments Ltd. will post -0.34 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the business. Global Retirement Partners LLC bought a new stake in shares of NioCorp Developments in the 3rd quarter valued at $31,000. Russell Investments Group Ltd. acquired a new position in shares of NioCorp Developments during the 3rd quarter worth about $40,000. Jones Financial Companies Lllp boosted its holdings in shares of NioCorp Developments by 131.9% in the 3rd quarter. Jones Financial Companies Lllp now owns 7,183 shares of the company’s stock valued at $49,000 after buying an additional 4,085 shares during the last quarter. Legal & General Group Plc raised its position in NioCorp Developments by 31.6% during the third quarter. Legal & General Group Plc now owns 7,584 shares of the company’s stock worth $51,000 after acquiring an additional 1,822 shares in the last quarter. Finally, Pittenger & Anderson Inc. lifted its stake in NioCorp Developments by 74.6% in the 4th quarter. Pittenger & Anderson Inc. now owns 7,665 shares of the company’s stock valued at $41,000 after purchasing an additional 3,275 shares during the last quarter. Institutional investors own 4.03% of the company’s stock.
About NioCorp Developments
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.