Stock fact sheet · data as of
NioCorp Developments Ltd. (NB): fair value, margin of safety and Wheel Score
Ticker symbol NB · Basic Materials · Industrial Materials · United States · Speculative
Is NB undervalued?
NB closed at 2.97 on 5 Nov 2026, more than 30% above the GLS average fair value of 0.3511. Only 0 of the 1 models that produced a value sit above the price. By our models the shares are priced well beyond what the filed earnings, cash flow and book value support; the "below fair value" Wheel Trade Filter keeps names like this under 70.
Only 1 of the nine models produced a value (DCF); the others need a dividend, positive free cash flow or positive book value the company does not have yet, so the average rests on a narrow base.
The nightly engine files NB under Speculative - it is losing money or its Piotroski health score is 3 or lower - which caps its Wheel Score at 45 and keeps it out of the Sunday Scan.
Nine valuation models for NB
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 0.3511 | -88% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | - | - | The most a defensive investor pays for the earnings and book value per share; no value tonight |
| Graham Growth | - | - | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields; no value tonight |
| Lynch | - | - | EPS × the earnings growth rate (PEG of 1), growth capped at 25%; no value tonight |
| GLS Growth | - | - | EPS compounded ten years at the blended growth rate, discounted back at 15% a year; no value tonight |
| 10 Cap | - | - | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10%; no value tonight |
| Payback Time | - | - | Eight years of compounded free cash flow: the price at which the business pays for itself; no value tonight |
| DDM | - | - | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend; no value tonight |
| EPV | - | - | Earnings power value: current EPS capitalised at 9% with no growth; no value tonight |
| Zombie (liquidation) | 2.62 | -12% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 4.70 | +58% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Financial health is weak: NB passes 2 of the nine Piotroski tests. Our scans drop the stock at the health filter; a low score is often the reason a stock looks cheap on the valuation models. The GLS Moat score is low at 1.5 out of 10: returns on capital, margins or the balance sheet have not shown a lasting edge yet - often a young company, a thin-margin business or one that has only recently turned profitable.
Returns on capital are thin or negative - ROIC -11.3%, ROE -11.3%, ROA -10.4% - with debt at 0.00 times equity and negative free cash flow.
NioCorp Developments Ltd. pays no dividend, so the DDM model does not apply and a covered-call holder earns only the premium and any price gain.
Institutional ownership scores 5/10, insider activity 10/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 2 / 9 | ROIC | -11.3% |
|---|---|---|---|
| GLS Moat | 1.5 / 10 | ROE | -11.3% |
| Debt / equity | 0.00 | ROA | -10.4% |
| Free-cash-flow yield | -10.0% | Payout ratio | 0% |
| Institutions | 5 / 10 | Insiders · Congress | 10 · 5 / 10 |
Wheel Score 23: Weak
NB scores 23 out of 100 on the Wheel Score, in the Weak band (under 50): it fails filter 2, a real business, not a gamble - speculative (a loss, or a weak Piotroski score); and filter 3, below fair value - trades 746% above our fair value; and filter 4, financially healthy - Piotroski 2/9 (under 6); and filter 7, a premium worth selling - implied volatility 85% (over 80%); and filter 8, big enough - market cap $433M (under $1.0B); and filter 9, not a penny stock - price 2.97 (under $5), and the parts are thin too - value weak, premium fair, moat weak, health weak, red flags good, option trading fair, stability fair. The score is not a judgement on the company; it says the price, quality and premium do not line up for selling puts on it today.
Implied volatility is 85%, above the 80% ceiling of the Wheel Trade Filter on premium. The premium looks generous, but moves of that size can blow through any strike. Chain open interest is 9,347 contracts across all expiries - enough for the wheel at normal size.
Volume runs at 2.3M shares a day on a market cap of $433M, with a beta of 0.17 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score rates that fair.
| Filter | Wheel Trade Filter | Result | Detail |
|---|---|---|---|
| 1 | Options that actually trade | Passes | Listed options with 1,000+ contracts of open interest and 100+ traded a day |
| 2 | A real business, not a gamble | Fails | speculative (a loss, or a weak Piotroski score) |
| 3 | Below fair value | Fails | trades 746% above our fair value |
| 4 | Financially healthy | Fails | Piotroski 2/9 (under 6) |
| 5 | Can repay its debt | Passes | Long-term debt repaid from 3 years of operating cash flow or less (6 for real estate and utilities; banks and insurers are not judged on it) |
| 6 | No serious red flags | Passes | Red Flags score 60 or more out of 100 (earnings, margins, debt, analysts, filings and price checked the same way for every stock) |
| 7 | A premium worth selling | Fails | implied volatility 85% (over 80%) |
| 8 | Big enough | Fails | market cap $433M (under $1.0B) |
| 9 | Not a penny stock | Fails | price 2.97 (under $5) |
| How it ranks | Rating | From | |
|---|---|---|---|
| Value | Weak | 746% above fair value | |
| Premium | Fair | implied volatility 85% | |
| Moat | Weak | moat 1.5/10 | |
| Health | Weak | Piotroski 2/9 | |
| Red Flags | Good | Red Flags score 82/100 | |
| Option trading | Fair | 3,053 contracts a day, 9,347 open interest | |
| Stability | Fair | beta 0.17, $433M company |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.
Upcoming events
NioCorp Developments Ltd. reports earnings on 12 Nov 2026 - inside the 14-day window the Sunday Scan avoids, because a put sold now would carry the report's gap risk.
No analyst upgrades or downgrades were recorded in the last 30 days.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Industrial Materials
The 12 companies below are the closest to NioCorp Developments Ltd. by market cap within the Industrial Materials industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| LAC Lithium Americas Corp. | 1.95 | - | - | 23Weak | $435M |
| UAMY United States Antimony Corporation | 2.98 | - | - | 15Weak | $446M |
| TMQ Trilogy Metals Inc. | 2.19 | 0.3096 | -607% | 15Weak | $397M |
| NAK Northern Dynasty Minerals Ltd. | 0.6767 | 0.0662 | -922% | 11Weak | $380M |
| WRN Western Copper and Gold Corporation | 1.60 | 0.0288 | -5462% | 9No options | $362M |
| SLI Standard Lithium Ltd. | 1.44 | 0.4975 | -189% | 16Weak | $355M |
| GSM Ferroglobe PLC | 2.93 | 1.63 | -80% | 17Weak | $548M |
| SGML Sigma Lithium Corporation | 5.62 | 6.93 | +19% | 27Weak | $633M |
| ANVI Anvi Global Holdings, Inc. | 2.46 | - | - | 9No options | $295M |
| LAR Lithium Argentina AG | 4.20 | - | - | 16Weak | $689M |
| BMM Blue Moon Metals Inc. | 2.98 | 1.11 | -168% | 10No options | $230M |
| CRML Critical Metals Corp. | 6.37 | 0.1400 | -4449% | 20Weak | $936M |
Scan the whole market the same way
A free GLS Equity account gets you nightly fair value and the Wheel Score on ~7,400 US stocks, a watchlist, the scanner preview and the Sunday Scan - the top 10 stocks that pass all 9 Wheel Trade Filters, emailed every week. Pro adds the full put and call scanners, unlimited watchlists with alerts and the trade journal.
Start free See the Sunday ScanQuestions about NB
Is NB undervalued right now?
No: at 2.97 the stock trades 746% above the GLS average fair value of 0.3511 (data as of 5 Nov 2026), well beyond what trailing earnings, cash flow and book value support.
What is the Wheel Score of NB and what does it mean?
NB scores 23 out of 100 (Weak) - it fails Wheel Trade Filters 2, 3, 4, 7, 8, 9. The Wheel Score ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned - in two parts: the 9 pass/fail Wheel Trade Filters (busy options, a real business, below fair value, Piotroski 6 or more, debt it can repay, a Red Flags score of 60 or more, implied volatility of 25-80%, a $1 billion company, $5 a share) and a ranking of how strongly a stock passes on value, premium, moat, health, red flags, option trading and stability. A stock that fails any filter stays under 70; 70-84 is Good, 85 and above is Prime. The Sunday Scan is the top 10 that pass, sorted by Wheel Score.
What is the GLS fair value for NB?
0.3511 per share as of 5 Nov 2026 - the simple average of the 1 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does NioCorp Developments Ltd. report earnings next?
The next earnings report is due on 12 Nov 2026, 7 days from the data date of 5 Nov 2026. The Calendars page lists every upcoming report with its time of day.
Does NB have listed options, and how liquid are they?
Yes. The nightly snapshot found 40 listed contracts with 9,347 open interest across all expiries and implied volatility of 85% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.