NioCorp Developments (NASDAQ:NB) Coverage Initiated at Maxim Group

Maxim Group started coverage on shares of NioCorp Developments (NASDAQ:NB) in a research note issued to investors on Wednesday,Benzinga reports. The brokerage set a “buy” rating and a $4.00 price target on the stock. Maxim Group’s price target suggests a potential upside of 158.06% from the stock’s current price.

NioCorp Developments Trading Down 1.9 %

Shares of NASDAQ:NB opened at $1.55 on Wednesday. The stock has a market capitalization of $65.89 million, a P/E ratio of -1.82 and a beta of -0.46. The stock’s 50-day moving average price is $1.46 and its 200-day moving average price is $1.70. NioCorp Developments has a 12-month low of $1.27 and a 12-month high of $4.00.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in NioCorp Developments stock. Virtu Financial LLC bought a new stake in NioCorp Developments Ltd. (NASDAQ:NB) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 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.

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.