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

Stock analysts at Maxim Group began coverage on shares of NioCorp Developments (NASDAQ:NB) in a research 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 target indicates 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 50 day moving average of $1.46 and a 200 day moving average of $1.70. The company has a market cap of $65.89 million, a PE ratio of -1.82 and a beta of -0.46. 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 position in NioCorp Developments Ltd. (NASDAQ:NB) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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.

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.