NioCorp Developments Ltd. Common Stock (NB)

FairStock Score: 26/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look for durable competitive advantages, honest accounting, and a margin of safety. NioCorp is not yet a business in that sense. It is a 14-employee explorer and developer with no revenue. In fiscal 2026, the year ended 2026-06-30, net income was -$48.6 million, or -$0.41 per diluted share. Fiscal 2025, ended 2025-06-30, lost $17.4 million, or $0.36 per share, and fiscal 2024, ended 2024-06-30, lost $11.9 million, or $0.31 per share. Losses are widening. One quarter did show net income of $669,000, or $0.01 per diluted share, in fiscal Q3 2026, the quarter ended 2026-03-31. But fiscal Q1 2026, the quarter ended 2025-09-30, had a $43.5 million loss, so the annual picture remains weak. Trailing twelve-month free cash flow was -$35.9 million, a FairStock FCF yield of -7.4%. FairStock's Piotroski score is 1/9, ROE is -22.13%, and ROCE is -9.38%. The balance sheet shows D/E of 0.00 and an Altman Z-Score of 8.84, but solvency ratios can look strong when there is no debt and no cash generation. At the 2026-10-13 close of $3.34, FairStock's P/E is -8.15 and P/B is 1.11. The FairStock Score is 26/100, and the Lynch category is none because the company lost money in each of the last four years. Elk Creek's niobium, scandium, and titanium potential may be valuable, but potential is not a moat. Until financing, development, and production are proven, intrinsic value rests on estimates. I see no margin of safety in a pre-revenue miner with negative cash flow.

In plain English: NioCorp is a small mining exploration and development company focused on a niobium, scandium, and titanium project in Nebraska. It has no revenue and has recorded losses in each of the last four years, so the business itself does not yet look strong. At $3.34 on 2026-10-13, the stock is near its 52-week low and trades close to its accounting value, but with no profits it is hard to call the price cheap, fair, or expensive from normal business numbers.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q3 2026 10-Q (period ended 2026-03-31) · fiscal Q2 2026 10-Q (period ended 2025-12-31) · fiscal Q1 2026 10-Q (period ended 2025-09-30) · fiscal Q3 2025 10-Q (period ended 2025-03-31) · FY2026 10-K (period ended 2026-06-30) · FY2025 10-K (period ended 2025-06-30) · FY2024 10-K (period ended 2024-06-30)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer