Maxim Group Increases NioCorp Developments (NASDAQ:NB) Price Target to $5.00

NioCorp Developments (NASDAQ:NB) had its target price lifted by Maxim Group from $4.00 to $5.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Maxim Group’s price target would suggest a potential upside of 62.34% from the stock’s current price.

Separately, HC Wainwright reduced their price target on shares of NioCorp Developments from $4.25 to $4.00 and set a “buy” rating for the company in a research report on Thursday, July 3rd.

NioCorp Developments Stock Performance

Shares of NB opened at $3.08 on Friday. The company has a market capitalization of $171.58 million, a price-to-earnings ratio of -9.06 and a beta of -0.37. NioCorp Developments has a fifty-two week low of $1.27 and a fifty-two week high of $4.15. The firm has a 50-day simple moving average of $2.52 and a 200-day simple moving average of $2.24.

NioCorp Developments (NASDAQ:NB) last announced its quarterly earnings data on Friday, July 11th. The company reported ($0.16) EPS for the quarter. Equities research analysts forecast that NioCorp Developments will post -0.34 EPS for the current year.

Institutional Trading of NioCorp Developments

Several institutional investors have recently made changes to their positions in NB. Jane Street Group LLC purchased a new stake in NioCorp Developments during the 4th quarter worth $359,000. Northern Trust Corp purchased a new stake in NioCorp Developments during the 4th quarter worth $980,000. Virtu Financial LLC boosted its position in NioCorp Developments by 158.0% during the 4th quarter. Virtu Financial LLC now owns 34,355 shares of the company’s stock worth $53,000 after purchasing an additional 21,038 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new stake in NioCorp Developments during the 2nd quarter worth $27,000. Finally, CreativeOne Wealth LLC boosted its position in NioCorp Developments by 76.0% during the 1st quarter. CreativeOne Wealth LLC now owns 29,983 shares of the company’s stock worth $59,000 after purchasing an additional 12,946 shares during the period. 4.03% of the stock is owned by hedge funds and other institutional investors.

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.