NioCorp Developments (NASDAQ:NB) Coverage Initiated at William Blair

Key Points

• William Blair has initiated coverage on NioCorp Developments (NASDAQ:NB), giving the stock an "outperform" rating.
• Target prices for NioCorp have recently been adjusted, with Maxim Group raising theirs to $5.00 and HC Wainwright to $8.25, while Weiss Ratings maintained a "sell (d-)" rating.
• NioCorp Developments has experienced significant volatility in its stock price, ranging from a low of $1.27 to a high of $12.58 over the past year.

Equities researchers at William Blair initiated coverage on shares of NioCorp Developments (NASDAQ:NB - Get Free Report) in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage set an "outperform" rating on the stock.

Several other research analysts also recently weighed in on the stock. Maxim Group upped their target price on shares of NioCorp Developments from $4.00 to $5.00 and gave the stock a "buy" rating in a report on Friday, July 11th. HC Wainwright boosted their price target on shares of NioCorp Developments from $4.00 to $8.25 and gave the stock a "buy" rating in a research note on Monday, September 22nd. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of NioCorp Developments in a research note on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, NioCorp Developments has an average rating of "Moderate Buy" and a consensus price target of $6.63.

NioCorp Developments Price Performance

Shares of NB stock opened at $8.11 on Monday. NioCorp Developments has a 1 year low of $1.27 and a 1 year high of $12.58. The firm has a fifty day moving average price of $6.05 and a 200-day moving average price of $3.88. The company has a market cap of $630.63 million, a price-to-earnings ratio of -23.85 and a beta of -0.18.

Institutional Trading of NioCorp Developments

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NB. ProShare Advisors LLC purchased a new stake in NioCorp Developments in the 2nd quarter worth about $25,000. KPP Advisory Services LLC purchased a new stake in NioCorp Developments in the 2nd quarter worth about $25,000. Wealth Enhancement Advisory Services LLC purchased a new stake in NioCorp Developments in the 2nd quarter worth about $27,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in NioCorp Developments in the 2nd quarter worth about $30,000. Finally, Blue Capital Inc. purchased a new stake in NioCorp Developments in the 2nd quarter worth about $36,000. 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.

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