Why NioCorp Developments Stock Was Bumping Higher on Monday

A clutch of stock investors were obviously considering critical materials company NioCorp Developments (NASDAQ: NB) to be critical for their portfolios on Monday. Following an analyst's price target increase, they bought into the stock, which was propelling it to an over 2% gain in late-session trading that day. That morning, H.C. Wainwright's Heiko Ihle made a significant upward adjustment to his NioCorp fair value assessment. He now believes the mining stock could reach $9.50 per share, significantly higher than his previous price target of $8.25. In making the change, he maintained his buy recommendation.Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool