NioCorp Developments (NASDAQ:NB) Releases Earnings Results

NioCorp Developments (NASDAQ:NB) released its quarterly earnings results on Friday. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.02, Zacks reports.

NioCorp Developments Trading Up 1.6 %

NASDAQ:NB traded up $0.04 during midday trading on Friday, hitting $2.51. 410,448 shares of the company were exchanged, compared to its average volume of 329,042. The company has a fifty day simple moving average of $1.66 and a 200 day simple moving average of $1.71. NioCorp Developments has a fifty-two week low of $1.27 and a fifty-two week high of $4.00. The company has a market capitalization of $106.71 million, a PE ratio of -2.95 and a beta of -0.36.

Analysts Set New Price Targets

NB has been the subject of a number of recent research reports. HC Wainwright cut their price objective on shares of NioCorp Developments from $8.50 to $3.25 and set a “buy” rating for the company in a report on Monday, January 13th. Maxim Group started coverage on shares of NioCorp Developments in a research note on Wednesday, January 8th. They issued a “buy” rating and a $4.00 price target for the company.

About NioCorp Developments

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.