H.C. Wainwright analyst Heiko Ihle has reiterated their bullish stance on NB stock, giving a Buy rating on April 25.
Heiko Ihle has given his Buy rating due to a combination of factors including the strategic importance of NioCorp Developments’ Elk Creek Project in the context of current geopolitical tensions. The project is poised to produce critical minerals such as niobium, scandium, and titanium, which are essential for national security and align with U.S. efforts to establish a domestic supply chain for these resources. This initiative is particularly significant given recent actions by China to restrict exports of heavy rare earths, prompting the U.S. administration to investigate the national security implications of relying on foreign mineral sources.
Additionally, the increased price target to $4.25, up from $3.25, reflects the urgency for domestic production and the growing investor interest in companies that can contribute to U.S. resource independence. The valuation is based on a discounted cash flow analysis with a revised NAV multiple, accounting for the risks associated with the project’s timeline. The company’s recent equity raise and the potential for future developments in project financing and permitting further support the positive outlook for NioCorp Developments.
In another report released on April 25, Maxim Group also reiterated a Buy rating on the stock with a $4.00 price target.