Nouveau Monde Graphite (NYSE:NMG) Price Target Lowered to $2.75 at HC Wainwright

Nouveau Monde Graphite (NYSE:NMG) had its target price reduced by HC Wainwright from $3.00 to $2.75 in a research note published on Tuesday,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

Separately, Roth Mkm cut their target price on shares of Nouveau Monde Graphite from $3.00 to $2.40 and set a “buy” rating on the stock in a research note on Wednesday, March 26th.

Nouveau Monde Graphite Trading Down 2.0 %

Shares of Nouveau Monde Graphite stock opened at $1.48 on Tuesday. The business’s fifty day moving average is $1.77 and its two-hundred day moving average is $1.62. Nouveau Monde Graphite has a fifty-two week low of $1.22 and a fifty-two week high of $2.57. The firm has a market cap of $166.62 million, a PE ratio of -2.31 and a beta of 0.78. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.02.

Nouveau Monde Graphite (NYSE:NMG) last issued its quarterly earnings results on Monday, March 31st. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.08). Analysts anticipate that Nouveau Monde Graphite will post -0.47 earnings per share for the current year.

Institutional Trading of Nouveau Monde Graphite

A number of hedge funds and other institutional investors have recently modified their holdings of NMG. SBI Securities Co. Ltd. acquired a new stake in Nouveau Monde Graphite during the 4th quarter valued at approximately $26,000. Millennium Management LLC raised its position in shares of Nouveau Monde Graphite by 51.9% in the 4th quarter. Millennium Management LLC now owns 47,755 shares of the company’s stock valued at $76,000 after purchasing an additional 16,312 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of Nouveau Monde Graphite by 46.2% during the 4th quarter. Bank of Montreal Can now owns 48,430 shares of the company’s stock valued at $76,000 after buying an additional 15,300 shares during the last quarter. Quinn Opportunity Partners LLC grew its position in shares of Nouveau Monde Graphite by 207.7% during the fourth quarter. Quinn Opportunity Partners LLC now owns 74,068 shares of the company’s stock worth $118,000 after buying an additional 50,000 shares in the last quarter. Finally, National Bank of Canada FI increased its stake in shares of Nouveau Monde Graphite by 6.7% in the third quarter. National Bank of Canada FI now owns 124,610 shares of the company’s stock worth $196,000 after buying an additional 7,871 shares during the last quarter. 41.09% of the stock is owned by hedge funds and other institutional investors.

Nouveau Monde Graphite Company Profile

Nouveau Monde Graphite Inc engages in the acquisition, exploration, development, and evaluation of mineral properties in Quebec, Canada. It primarily explores for graphite. The company’s flagship property is the 100% owned Matawinie graphite property including 176 mining claims covering an area of 9,264 hectares located in Quebec.