NioCorp Developments (NASDAQ:NB) Shares Up 12% – What’s Next?

NioCorp Developments Ltd. (NASDAQ:NB) shares were up 12% during trading on Friday . The company traded as high as $5.80 and last traded at $5.9360. Approximately 2,176,342 shares were traded during trading, a decline of 38% from the average daily volume of 3,528,941 shares. The stock had previously closed at $5.30.

Wall Street Analyst Weigh In

Several equities analysts recently commented on NB shares. Weiss Ratings reissued a “sell (d-)” rating on shares of NioCorp Developments in a research report on Wednesday, October 8th. William Blair initiated coverage on shares of NioCorp Developments in a research report on Monday, October 20th. They set an “outperform” rating on the stock. Finally, HC Wainwright raised their price target on shares of NioCorp Developments from $8.25 to $9.50 and gave the company a “buy” rating in a report on Monday, December 8th. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $7.25.

NioCorp Developments Price Performance

The business’s 50-day moving average price is $6.12 and its two-hundred day moving average price is $5.31. The firm has a market cap of $700.05 million, a price-to-earnings ratio of -7.17 and a beta of -0.14.

NioCorp Developments (NASDAQ:NB) last posted its quarterly earnings data on Thursday, September 11th. The company reported ($0.19) EPS for the quarter. Equities analysts predict that NioCorp Developments Ltd. will post -0.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NioCorp Developments

Hedge funds have recently bought and sold shares of the company. ProShare Advisors LLC bought a new stake in NioCorp Developments in the second quarter valued at about $25,000. KPP Advisory Services LLC acquired a new position in shares of NioCorp Developments in the 2nd quarter worth approximately $25,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of NioCorp Developments in the 2nd quarter valued at approximately $27,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of NioCorp Developments during the 2nd quarter valued at approximately $30,000. Finally, Global Retirement Partners LLC bought a new position in NioCorp Developments during the third quarter worth $31,000. 4.03% of the stock is currently owned by institutional investors and hedge funds.

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.