NioCorp Developments (NIOBF) Receives a Rating Update from a Top Analyst

By Ryan Adsit

H.C. Wainwright analyst Heiko Ihle reiterated a Buy rating on NioCorp Developments (NIOBFResearch Report) today and set a price target of $0.90. The company’s shares closed last Friday at $0.61.

According to TipRanks.com, Ihle is a top 100 analyst with an average return of 42.5% and a 67.3% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Solitario Exploration & Royalty, Northern Dynasty Minerals, and First Majestic Silver.

Currently, the analyst consensus on NioCorp Developments is a Moderate Buy with an average price target of $0.90.

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The company has a one-year high of $0.78 and a one-year low of $0.38. Currently, NioCorp Developments has an average volume of 137.9K.

Based on the recent corporate insider activity of 23 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of NIOBF in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

NioCorp Developments Ltd. engages in the evaluation, acquisition, exploration, and development of mineral deposits. It focuses on a superalloy materials project in Southeast Nebraska for the production of niobium, scandium, and titanium. The company was founded on February 27, 1987 and is headquartered in Centennial, CO.