Nouveau Monde Graphite (NYSE:NMG) Earns Buy Rating from HC Wainwright

Nouveau Monde Graphite (NYSE:NMG)‘s stock had its “buy” rating reiterated by investment analysts at HC Wainwright in a research report issued on Tuesday,Benzinga reports. They presently have a $3.00 price objective on the stock. HC Wainwright’s price objective suggests a potential upside of 132.56% from the stock’s current price.

Nouveau Monde Graphite Price Performance

NMG stock opened at $1.29 on Tuesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.74 and a quick ratio of 1.74. Nouveau Monde Graphite has a one year low of $1.22 and a one year high of $3.07. The stock has a market cap of $145.23 million, a PE ratio of -2.02 and a beta of 0.79. The firm has a 50 day simple moving average of $1.40 and a two-hundred day simple moving average of $1.58.

Institutional Trading of Nouveau Monde Graphite

A hedge fund recently raised its stake in Nouveau Monde Graphite stock. National Bank of Canada FI boosted its position in shares of Nouveau Monde Graphite Inc. (NYSE:NMG) by 6.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 124,610 shares of the company’s stock after acquiring an additional 7,871 shares during the period. National Bank of Canada FI owned 0.11% of Nouveau Monde Graphite worth $196,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 41.09% of the company’s stock.

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.