NioCorp Developments (NASDAQ:NB – Get Free Report) issued its quarterly earnings results on Thursday. The company reported ($0.03) EPS for the quarter, meeting analysts’ consensus estimates of ($0.03), Zacks reports.
NioCorp Developments Stock Down 9.1%
NASDAQ NB opened at $2.70 on Friday. The stock has a market capitalization of $393.80 million, a PE ratio of -5.00 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 company has a 50 day moving average price of $3.50 and a two-hundred day moving average price of $4.83.
Analyst Ratings Changes
A number of equities research analysts have recently commented on NB shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of NioCorp Developments in a research report on Thursday, October 15th. Texas Capital upgraded NioCorp Developments to a “strong-buy” rating in a report on Tuesday, October 20th. Jefferies Financial Group began coverage on NioCorp Developments in a research report on Wednesday, September 2nd. They set a “hold” rating and a $4.70 target price on the stock. Zacks Research raised NioCorp Developments from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 14th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of NioCorp Developments in a report on Wednesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.
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