NioCorp Developments (NASDAQ:NB) Shares Down 8.1% – Time to Sell?

by · The Markets Daily

NioCorp Developments Ltd. (NASDAQ:NB – Get Free Report) shares fell 8.1% during trading on Monday . The stock traded as low as $5.74 and last traded at $5.7550. 2,162,710 shares were traded during trading, a decline of 39% from the average session volume of 3,534,087 shares. The stock had previously closed at $6.26.

Wall Street Analysts Forecast Growth

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

Read Our Latest Analysis on NB

NioCorp Developments Trading Down 9.1%

The company’s 50-day moving average is $7.23 and its 200-day moving average is $4.77. The firm has a market cap of $679.16 million, a price-to-earnings ratio of -6.94 and a beta of -0.16.

NioCorp Developments (NASDAQ:NB – Get Free Report) last released its earnings results on Thursday, September 11th. The company reported ($0.19) earnings per share for the quarter. Equities research analysts forecast that NioCorp Developments Ltd. will post -0.34 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Private Management Group Inc. bought a new position in shares of NioCorp Developments during the second quarter worth about $4,890,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in NioCorp Developments during the 2nd quarter valued at approximately $205,000. Armistice Capital LLC bought a new position in NioCorp Developments during the 1st quarter worth approximately $2,573,000. Wealth Enhancement Advisory Services LLC bought a new position in NioCorp Developments during the 2nd quarter worth approximately $27,000. Finally, Worth Venture Partners LLC acquired a new position in shares of NioCorp Developments in the 2nd quarter worth approximately $76,000. Institutional investors own 4.03% of the company’s stock.

NioCorp Developments Company Profile

(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.

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