NioCorp Dev (NB), the Materials sector company, was revisited by a Wall Street analyst today. Analyst Heiko Ihle from H.C. Wainwright rated NioCorp Dev (NB) a Buy, setting a C$1.20 price target.
Ihle wrote:
“We note our continued belief that the metal alloy is becoming increasingly applicable in the aerospace and sporting goods industries, as well as in fuel cells. In turn, we note NioCorp has significantly decreased risk associated with the by securing this offtake arrangement, and has developed a reliable pathway towards the future generation of capital.”
According to TipRanks.com, Ihle ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -7.6% and a 33.9% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Solitario Exploration & Royalty, Golden Star Resources Ltd, and Northern Dynasty Minerals.
Currently, the analyst consensus on NioCorp Dev is a Moderate Buy with an average price target of C$1.20.
The company has a one-year high of C$0.76 and a one-year low of C$0.52. Currently, NioCorp Dev has an average volume of 67.24K.
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.
The company’s shares closed on Tuesday at C$0.63.
