NioCorp Developments (NASDAQ:NB) Shares Up 13.4% – What’s Next?

Shares of NioCorp Developments Ltd. (NASDAQ:NB) shot up 13.4% during mid-day trading on Thursday . The company traded as high as $6.90 and last traded at $6.8830. 4,211,491 shares traded hands during trading, an increase of 19% from the average session volume of 3,529,061 shares. The stock had previously closed at $6.07.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. William Blair started coverage on NioCorp Developments in a research report on Monday, October 20th. They set an “outperform” rating for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NioCorp Developments in a research report on Wednesday, October 8th. Finally, HC Wainwright increased their price target on shares of NioCorp Developments from $4.00 to $8.25 and gave the company a “buy” rating in a report on Monday, September 22nd. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, NioCorp Developments has an average rating of “Moderate Buy” and a consensus price target of $6.63.

NioCorp Developments Stock Performance

The business has a fifty day moving average price of $7.22 and a 200 day moving average price of $4.83. The company has a market cap of $825.97 million, a price-to-earnings ratio of -8.44 and a beta of -0.16.

NioCorp Developments (NASDAQ:NB) last announced its quarterly earnings results on Thursday, September 11th. The company reported ($0.19) earnings per share (EPS) for the quarter. As a group, equities analysts anticipate that NioCorp Developments Ltd. will post -0.34 EPS for the current year.

Institutional Trading of NioCorp Developments

Institutional investors have recently modified their holdings of the business. ProShare Advisors LLC bought a new stake in NioCorp Developments in the second quarter valued at approximately $25,000. KPP Advisory Services LLC bought a new stake in shares of NioCorp Developments during the 2nd quarter valued at about $25,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of NioCorp Developments during the 2nd quarter worth approximately $27,000. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of NioCorp Developments in the 2nd quarter valued at $30,000. Finally, Global Retirement Partners LLC acquired a new position in shares of NioCorp Developments during the 3rd quarter valued at $31,000. Institutional investors own 4.03% of the company’s stock.

About NioCorp Developments

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.