Maxim Group Begins Coverage on NioCorp Developments (NASDAQ:NB)

Maxim Group started coverage on shares of NioCorp Developments (NASDAQ:NB) in a research note issued to investors on Wednesday,Benzinga reports. The firm set a “buy” rating and a $4.00 price target on the stock. Maxim Group’s price target suggests a potential upside of 158.06% from the company’s previous close.

NioCorp Developments Trading Down 1.9 %

Shares of NB traded down $0.03 during mid-day trading on Wednesday, reaching $1.55. 33,246 shares of the stock traded hands, compared to its average volume of 105,029. The company has a market cap of $65.89 million, a price-to-earnings ratio of -1.82 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 firm has a fifty day moving average price of $1.47 and a 200 day moving average price of $1.70.

Institutional Trading of NioCorp Developments

An institutional investor recently raised its position in NioCorp Developments stock. XTX Topco Ltd lifted its holdings in NioCorp Developments Ltd. (NASDAQ:NB) by 109.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,638 shares of the company’s stock after buying an additional 14,966 shares during the quarter. XTX Topco Ltd owned approximately 0.08% of NioCorp Developments worth $50,000 as of its most recent SEC filing. 4.03% of the stock is currently owned by 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.