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

Nouveau Monde Graphite (NYSE:NMG) had its price objective reduced by equities research analysts at HC Wainwright from $3.00 to $2.75 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price target suggests a potential upside of 88.87% from the stock’s previous close.

Separately, Roth Mkm reduced their price objective 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 3.6 %

Shares of NMG stock opened at $1.46 on Tuesday. Nouveau Monde Graphite has a twelve month low of $1.22 and a twelve month high of $2.57. The stock’s fifty day simple moving average is $1.79 and its 200 day simple moving average is $1.62. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $163.92 million, a P/E ratio of -2.28 and a beta of 0.78.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Quinn Opportunity Partners LLC increased 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 during the period. SBI Securities Co. Ltd. bought a new stake in Nouveau Monde Graphite during the fourth quarter valued at $26,000. Millennium Management LLC grew its holdings in Nouveau Monde Graphite by 51.9% during the 4th quarter. Millennium Management LLC now owns 47,755 shares of the company’s stock worth $76,000 after acquiring an additional 16,312 shares during the period. Bank of Montreal Can raised its position in shares of Nouveau Monde Graphite by 46.2% in the 4th quarter. Bank of Montreal Can now owns 48,430 shares of the company’s stock worth $76,000 after acquiring an additional 15,300 shares in the last quarter. Finally, National Bank of Canada FI lifted its stake in shares of Nouveau Monde Graphite by 6.7% in the 3rd quarter. National Bank of Canada FI now owns 124,610 shares of the company’s stock valued at $196,000 after purchasing an additional 7,871 shares during the period. Institutional investors and hedge funds own 41.09% of the company’s stock.

About Nouveau Monde Graphite

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.