NioCorp Developments (NASDAQ:NB) Now Covered by Analysts at Maxim Group

Investment analysts at Maxim Group began coverage on shares of NioCorp Developments (NASDAQ:NB) in a report issued on Wednesday,Benzinga reports. The brokerage set a “buy” rating and a $4.00 price target on the stock. Maxim Group’s price objective suggests a potential upside of 158.06% from the company’s previous close.

NioCorp Developments Price Performance

NB stock traded down $0.03 during trading on Wednesday, hitting $1.55. 33,246 shares of the stock traded hands, compared to its average volume of 105,029. The firm’s 50 day moving average is $1.47 and its two-hundred day moving average is $1.70. NioCorp Developments has a 1 year low of $1.27 and a 1 year high of $4.00. The stock has a market cap of $65.89 million, a price-to-earnings ratio of -1.82 and a beta of -0.46.

Hedge Funds Weigh In On NioCorp Developments

A hedge fund recently bought a new stake in NioCorp Developments stock. Virtu Financial LLC bought a new stake in shares of NioCorp Developments Ltd. (NASDAQ:NB) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 13,317 shares of the company’s stock, valued at approximately $29,000. Institutional investors 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.