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NioCorp Developments ( (NB) ) just unveiled an announcement.
NioCorp Developments Ltd. has announced that its Elk Creek Project in Nebraska could quickly become a domestic source of heavy rare earth products, amid a crisis in the U.S. automotive and manufacturing sectors due to China’s restrictions on rare earth exports. The company is fully permitted to start construction and aims to reduce U.S. dependence on Chinese rare earths, which are critical for various industries, including defense. This development could have significant implications for U.S. manufacturing and national defense by providing a domestic supply of strategic materials.
The most recent analyst rating on (NB) stock is a Buy with a $4.25 price target. To see the full list of analyst forecasts on NioCorp Developments stock, see the NB Stock Forecast page.
More about NioCorp Developments
NioCorp Developments Ltd. is focused on developing a critical minerals project in Southeast Nebraska, known as the Elk Creek Project. The company aims to produce niobium, scandium, and titanium, and is evaluating the potential to produce several rare earths. Niobium is used in specialty alloys and high-strength, low-alloy steel for automotive and structural applications. Scandium enhances aluminum alloys and is crucial for advanced fuel cells. Titanium is used in lightweight alloys, pigments, aerospace, and medical applications.
Average Trading Volume: 1,025,400
Technical Sentiment Signal: Sell
Current Market Cap: $139.3M
See more data about NB stock on TipRanks’ Stock Analysis page.