Shares of NioCorp Developments Ltd. (NASDAQ:NB - Get Free Report) dropped 5.3% on Tuesday . The company traded as low as $1.59 and last traded at $1.78. Approximately 369,510 shares traded hands during trading, an increase of 130% from the average daily volume of 160,756 shares. The stock had previously closed at $1.88.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on NB. HC Wainwright reduced their price target on NioCorp Developments from $8.50 to $3.25 and set a "buy" rating on the stock in a report on Monday, January 13th. Maxim Group started coverage on shares of NioCorp Developments in a report on Wednesday, January 8th. They set a "buy" rating and a $4.00 target price on the stock.
Check Out Our Latest Analysis on NioCorp Developments
NioCorp Developments Stock Down 5.3 %
The business's 50 day moving average is $2.01 and its 200 day moving average is $1.77. The company has a market cap of $83.34 million, a P/E ratio of -2.31 and a beta of -0.32.
NioCorp Developments (NASDAQ:NB - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.02. As a group, equities research analysts forecast that NioCorp Developments Ltd. will post -0.34 EPS for the current year.
Institutional Trading of NioCorp Developments
A number of institutional investors have recently modified their holdings of NB. Virtu Financial LLC purchased a new position in NioCorp Developments during the 3rd quarter worth $29,000. Jane Street Group LLC purchased a new stake in NioCorp Developments in the fourth quarter valued at about $359,000. Finally, Northern Trust Corp acquired a new stake in NioCorp Developments in the fourth quarter worth about $980,000. 4.03% of the stock is currently owned by institutional investors.
About NioCorp Developments
(
Get Free Report)
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.
Further Reading
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