NioCorp Developments (NASDAQ:NB) Shares Down 7.7%

NioCorp Developments Ltd. (NASDAQ:NB)’s share price traded down 7.7% during mid-day trading on Monday . The stock traded as low as $2.83 and last traded at $2.87. 88,864 shares were traded during mid-day trading, a decline of 18% from the average session volume of 108,970 shares. The stock had previously closed at $3.11.

NioCorp Developments Price Performance

The firm’s 50-day moving average price is $2.70 and its 200-day moving average price is $3.19. The company has a market cap of $100.21 million, a price-to-earnings ratio of -2.28 and a beta of -0.52.

NioCorp Developments (NASDAQ:NB) last announced its quarterly earnings data on Tuesday, February 13th. The company reported ($0.09) earnings per share for the quarter. On average, sell-side analysts anticipate that NioCorp Developments Ltd. will post -0.64 earnings per share for the current year.

Institutional Trading of NioCorp Developments

A number of hedge funds and other institutional investors have recently made changes to their positions in NB. HRT Financial LP purchased a new position in shares of NioCorp Developments in the first quarter worth approximately $688,000. Vanguard Group Inc. grew its position in NioCorp Developments by 940.6% during the fourth quarter. Vanguard Group Inc. now owns 116,761 shares of the company’s stock valued at $372,000 after purchasing an additional 105,540 shares in the last quarter. BlackRock Inc. purchased a new position in NioCorp Developments during the second quarter valued at approximately $486,000. Anson Funds Management LP purchased a new position in NioCorp Developments during the first quarter valued at approximately $507,000. Finally, Barclays PLC grew its position in NioCorp Developments by 2,710.6% during the third quarter. Barclays PLC now owns 39,826 shares of the company’s stock valued at $145,000 after purchasing an additional 38,409 shares in the last quarter. 4.03% of the stock is currently owned by institutional investors.

NioCorp Developments Company Profile

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.