Maxim Group began coverage on shares of NioCorp Developments (NASDAQ:NB – Free Report) in a research report released on Wednesday, MarketBeat.com reports. The brokerage issued a buy rating and a $4.00 price target on the stock.
NioCorp Developments Price Performance
Shares of NASDAQ:NB opened at $1.57 on Wednesday. NioCorp Developments has a one year low of $1.27 and a one year high of $4.00. The firm has a market capitalization of $66.74 million, a price-to-earnings ratio of -1.85 and a beta of -0.46. The company’s fifty day moving average price is $1.46 and its 200-day moving average price is $1.70.
Institutional Investors Weigh In On NioCorp Developments
An institutional investor recently bought a new position in NioCorp Developments stock. Virtu Financial LLC acquired a new stake in NioCorp Developments Ltd. (NASDAQ:NB – Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 13,317 shares of the company’s stock, valued at approximately $29,000. Institutional investors and hedge funds own 4.03% of the company’s stock.
About NioCorp Developments
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.
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