Maxim Group assumed coverage on shares of NioCorp Developments (NASDAQ:NB - Free Report) in a research note published on Wednesday,Benzinga reports. The firm issued a buy rating and a $4.00 price target on the stock.
NioCorp Developments Stock Performance
Shares of NB traded down $0.03 during mid-day trading on Wednesday, hitting $1.55. 68,596 shares of the company traded hands, compared to its average volume of 112,159. The stock has a market cap of $65.89 million, a price-to-earnings ratio of -1.82 and a beta of -0.46. The stock has a 50-day moving average price of $1.47 and a two-hundred day moving average price of $1.70. NioCorp Developments has a 1 year low of $1.27 and a 1 year high of $4.00.
Institutional Trading of NioCorp Developments
An institutional investor recently bought a new position in NioCorp Developments stock. Virtu Financial LLC acquired a new stake in shares of NioCorp Developments Ltd. (NASDAQ:NB - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,317 shares of the company's stock, valued at approximately $29,000. Hedge funds and other institutional investors own 4.03% of the company's stock.
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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