NioCorp Developments (NASDAQ:NB) Coverage Initiated at Maxim Group

Maxim Group started coverage on shares of NioCorp Developments (NASDAQ:NB) in a research note published on Wednesday morning,Benzinga reports. The brokerage issued a buy rating and a $4.00 price objective on the stock.

NioCorp Developments Price Performance

NioCorp Developments stock opened at $1.55 on Wednesday. The stock’s fifty day moving average is $1.46 and its two-hundred day moving average is $1.70. The stock has a market cap of $65.89 million, a PE 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.

Institutional Trading of NioCorp Developments

A hedge fund recently bought a new stake in NioCorp Developments stock. Virtu Financial LLC bought a new stake in NioCorp Developments Ltd. (NASDAQ:NB) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 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

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.