NioCorp Developments Target of Unusually High Options Trading (NASDAQ:NB)

NioCorp Developments Ltd. (NASDAQ:NB) was the target of unusually large options trading on Monday. Stock investors purchased 49,083 call options on the stock. This represents an increase of 904% compared to the typical volume of 4,890 call options.

NioCorp Developments Stock Up 9.0%

Shares of NASDAQ:NB opened at $11.32 on Tuesday. The company’s fifty day moving average is $5.63 and its two-hundred day moving average is $3.67. NioCorp Developments has a 12-month low of $1.27 and a 12-month high of $12.58. The company has a market cap of $880.24 million, a P/E ratio of -33.29 and a beta of -0.18.

NioCorp Developments (NASDAQ:NB) last announced its earnings results on Friday, July 11th. The company reported ($0.16) earnings per share (EPS) for the quarter. Equities research analysts anticipate that NioCorp Developments will post -0.34 earnings per share for the current year.

Institutional Trading of NioCorp Developments

Hedge funds and other institutional investors have recently modified their holdings of the company. KPP Advisory Services LLC purchased a new stake in shares of NioCorp Developments during the second quarter worth $25,000. ProShare Advisors LLC purchased a new stake in shares of NioCorp Developments during the second quarter worth $25,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of NioCorp Developments during the second quarter worth $27,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of NioCorp Developments during the second quarter worth $30,000. Finally, Quotient Wealth Partners LLC purchased a new stake in shares of NioCorp Developments during the third quarter worth $90,000. 4.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NB has been the subject of a number of research analyst reports. Maxim Group upped their target price on NioCorp Developments from $4.00 to $5.00 and gave the stock a “buy” rating in a research report on Friday, July 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NioCorp Developments in a report on Wednesday, October 8th. Finally, HC Wainwright upped their price target on NioCorp Developments from $4.00 to $8.25 and gave the company a “buy” rating in a report on Monday, September 22nd. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $6.63.

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.