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CENTENNIAL, CO - NioCorp Developments Ltd. (NASDAQ:NB), a mining company with a market capitalization of $1.16 billion, will be added to the broad-market Russell 3000 Index after the U.S. market opens on June 30, 2025, as part of the annual Russell indexes reconstitution. The company has shown remarkable momentum, with its stock price surging 87% over the past six months, according to InvestingPro data.
The inclusion, which remains in place for one year, also means automatic membership in the small-cap Russell 2000 Index and the appropriate growth and value style indexes. FTSE Russell determines index membership primarily through objective market-capitalization rankings of the 4,000 largest U.S. stocks as of April 30. With a beta of -0.08, NioCorp’s stock typically moves counter to the broader market, making it an interesting diversification option for investors.
Russell indexes serve as benchmarks for investment managers and institutional investors. According to data from June 2024, approximately $10.6 trillion in assets are benchmarked against Russell US indexes, which are owned by FTSE Russell, a subsidiary of London Stock Exchange Group.
NioCorp is developing the Elk Creek Project in Southeast Nebraska, which is expected to produce niobium, scandium, and titanium. The company is also evaluating the potential to produce rare earth elements from the project. While generating revenue of $809.33 million in the last twelve months, InvestingPro analysis reveals several additional insights about the company’s financial health and growth prospects. Subscribers can access 8 more exclusive ProTips and detailed financial metrics.
Niobium is used in specialty alloys and high-strength steel for automotive, structural, and pipeline applications. Scandium can be combined with aluminum to create stronger alloys with improved corrosion resistance and is used in fuel cells. Titanium is utilized in lightweight alloys for aerospace applications, armor, and medical implants.
The announcement was made in a company press release statement.
In other recent news, NioCorp Developments Ltd. has announced the pricing of its public offering, aiming to raise $20 million through the sale of 7,692,308 common shares at $2.60 per share. The offering is expected to close around April 21, 2025, pending customary conditions, with Maxim Group LLC serving as the underwriter. Additionally, H.C. Wainwright has raised NioCorp’s stock price target to $4.25, maintaining a Buy rating, reflecting optimism about the company’s Elk Creek Project. This project is gaining attention due to its potential to produce critical minerals, which are increasingly important amid geopolitical tensions and U.S. national security concerns. Recent actions by China, including export restrictions on heavy rare earths, have heightened the importance of domestic mineral production. President Donald Trump has initiated a national security investigation into U.S. imports of these materials, which may lead to additional tariffs. Analysts at H.C. Wainwright have adjusted their net asset value multiple for NioCorp, emphasizing the strategic significance of the Elk Creek Project. These developments underscore the company’s role in bolstering the U.S. supply chain for critical minerals.
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