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NioCorp Developments ( (NB) ) has issued an announcement.
NioCorp Developments Ltd. has expressed strong support for a new bipartisan bill introduced by Nebraska Congressman Adrian Smith, aimed at encouraging the domestic production of rare earth elements and scandium in the U.S. The proposed legislation seeks to modernize federal law by increasing the depletion allowance for these critical minerals, aligning them with priority minerals, and offering significant tax incentives to potential miners like NioCorp. This initiative, which has garnered bipartisan support, is seen as a strategic move to enhance U.S. national security by reducing reliance on China for these essential materials, potentially benefiting NioCorp’s Elk Creek Project in Nebraska.
The most recent analyst rating on (NB) stock is a Buy with a $4.00 price target. To see the full list of analyst forecasts on NioCorp Developments stock, see the NB Stock Forecast page.
More about NioCorp Developments
NioCorp Developments Ltd. is engaged in developing the Elk Creek Project, which aims to produce niobium, scandium, and titanium, with potential for rare earth production. Niobium is used in specialty alloys and high-strength steel, scandium in aluminum alloys and fuel cells, and titanium in lightweight alloys and pigments. The company focuses on critical minerals essential for various industrial and defense applications.
Average Trading Volume: 1,382,235
Technical Sentiment Signal: Hold
Current Market Cap: $204.9M
Learn more about NB stock on TipRanks’ Stock Analysis page.