NioCorp Developments (NASDAQ:NB - Free Report) had its price objective lowered by HC Wainwright from $8.50 to $3.25 in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.
Separately, Maxim Group started coverage on shares of NioCorp Developments in a research report on Wednesday, January 8th. They set a "buy" rating and a $4.00 target price for the company.
Check Out Our Latest Analysis on NB
NioCorp Developments Price Performance
Shares of NioCorp Developments stock traded down $0.01 during trading on Monday, reaching $1.56. 267,703 shares of the company traded hands, compared to its average volume of 128,372. The firm has a market capitalization of $66.32 million, a PE ratio of -1.84 and a beta of -0.46. NioCorp Developments has a 1-year low of $1.27 and a 1-year high of $4.00. The company has a 50 day moving average price of $1.46 and a 200-day moving average price of $1.70.
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 position in NioCorp Developments Ltd. (NASDAQ:NB - Free Report) during the third quarter, according to the company in its most recent filing with the SEC. The firm bought 13,317 shares of the company's stock, valued at approximately $29,000. 4.03% of the stock is owned by institutional investors.
About NioCorp Developments
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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.
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