NioCorp Developments (NASDAQ:NB) Given Buy Rating at HC Wainwright

HC Wainwright reiterated their buy rating on shares of NioCorp Developments (NASDAQ:NB) in a report issued on Thursday, Benzinga reports. HC Wainwright currently has a $8.50 price target on the stock.

NioCorp Developments Price Performance

NioCorp Developments stock opened at $1.82 on Thursday. NioCorp Developments has a 1-year low of $1.62 and a 1-year high of $5.20. The stock has a market cap of $67.50 million, a PE ratio of -4.92 and a beta of -0.36. The stock’s fifty day moving average is $1.84 and its two-hundred day moving average is $2.25.

Hedge Funds Weigh In On NioCorp Developments

Several institutional investors have recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd purchased a new stake in NioCorp Developments in the 4th quarter valued at approximately $46,000. Vanguard Group Inc. boosted its stake in shares of NioCorp Developments by 529.0% during the 1st quarter. Vanguard Group Inc. now owns 734,425 shares of the company’s stock worth $1,998,000 after acquiring an additional 617,664 shares in the last quarter. Pitcairn Co. purchased a new stake in shares of NioCorp Developments during the 1st quarter worth approximately $29,000. Finally, XTX Topco Ltd boosted its stake in shares of NioCorp Developments by 109.5% during the 2nd quarter. XTX Topco Ltd now owns 28,638 shares of the company’s stock worth $50,000 after acquiring an additional 14,966 shares in the last quarter. Institutional investors and hedge funds own 4.03% of the company’s stock.

NioCorp Developments Company Profile

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.