NioCorp Developments (NASDAQ:NB – Get Free Report) released its earnings results on Thursday. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.04, FiscalAI reports.
NioCorp Developments Stock Performance
NB traded down $0.27 during midday trading on Thursday, reaching $2.70. 3,426,900 shares of the company were exchanged, compared to its average volume of 3,021,298. NioCorp Developments has a one year low of $2.59 and a one year high of $8.18. The stock has a market capitalization of $393.80 million, a P/E ratio of -5.00 and a beta of 0.30. The stock’s 50-day simple moving average is $3.50 and its 200 day simple moving average is $4.83.
Analysts Set New Price Targets
Several brokerages have recently commented on NB. Zacks Research upgraded shares of NioCorp Developments from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 14th. Wall Street Zen upgraded shares of NioCorp Developments from a “strong sell” rating to a “sell” rating in a report on Saturday, October 10th. Texas Capital raised shares of NioCorp Developments to a “strong-buy” rating in a research note on Tuesday, October 20th. Jefferies Financial Group initiated coverage on shares of NioCorp Developments in a research note on Wednesday, September 2nd. They issued 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. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $8.85.
Check Out Our Latest Stock Analysis on NioCorp Developments
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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