HC Wainwright Lowers NioCorp Developments (NASDAQ:NB) Price Target to $3.25

NioCorp Developments (NASDAQ:NB) had its price target dropped by HC Wainwright from $8.50 to $3.25 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s target price suggests a potential upside of 107.01% from the company’s current price.

Separately, Maxim Group assumed coverage on NioCorp Developments in a research report on Wednesday, January 8th. They set a “buy” rating and a $4.00 target price on the stock.

NioCorp Developments Stock Up 1.3 %

Shares of NASDAQ:NB opened at $1.57 on Monday. NioCorp Developments has a twelve month low of $1.27 and a twelve month high of $4.00. The stock’s 50 day moving average is $1.46 and its 200-day moving average is $1.70. The firm has a market capitalization of $66.74 million, a price-to-earnings ratio of -1.85 and a beta of -0.46.

Institutional Investors Weigh In On NioCorp Developments

A hedge fund recently raised its stake in NioCorp Developments stock. XTX Topco Ltd grew its holdings in shares of NioCorp Developments Ltd. (NASDAQ:NB) by 109.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,638 shares of the company’s stock after purchasing an additional 14,966 shares during the quarter. XTX Topco Ltd owned approximately 0.08% of NioCorp Developments worth $50,000 at the end of the most recent reporting period. 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.