HC Wainwright Forecasts Strong Price Appreciation for NioCorp Developments (NASDAQ:NB) Stock

NioCorp Developments (NASDAQ:NB - Get Free Report) had its target price boosted by HC Wainwright from $3.25 to $4.25 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the stock. HC Wainwright's price target indicates a potential upside of 56.25% from the company's current price.

Separately, Maxim Group started coverage on shares of NioCorp Developments in a research note on Wednesday, January 8th. They set a "buy" rating and a $4.00 target price for the company.

NioCorp Developments Stock Up 2.3 %

Shares of NB stock opened at $2.72 on Tuesday. The firm has a market cap of $127.34 million, a P/E ratio of -3.53 and a beta of -0.33. The business has a 50-day moving average price of $2.19 and a two-hundred day moving average price of $1.88. NioCorp Developments has a 12-month low of $1.27 and a 12-month high of $4.15.

NioCorp Developments (NASDAQ:NB - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The company reported ($0.01) EPS for the quarter, beating analysts' consensus estimates of ($0.03) by $0.02. As a group, research analysts expect that NioCorp Developments will post -0.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Jane Street Group LLC bought a new position in NioCorp Developments during the fourth quarter valued at approximately $359,000. Northern Trust Corp bought a new stake in shares of NioCorp Developments in the fourth quarter worth $980,000. Finally, Virtu Financial LLC increased its position in NioCorp Developments by 158.0% during the fourth quarter. Virtu Financial LLC now owns 34,355 shares of the company's stock valued at $53,000 after acquiring an additional 21,038 shares during the last quarter. 4.03% of the stock is owned by hedge funds and other institutional investors.

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.

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