HC Wainwright Issues Pessimistic Forecast for Nouveau Monde Graphite (NYSE:NMG) Stock Price

Nouveau Monde Graphite (NYSE:NMG) had its target price lowered by analysts at HC Wainwright from $3.00 to $2.75 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s target price would suggest a potential upside of 88.87% from the company’s current price.

Separately, Roth Mkm decreased 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 report on Wednesday, March 26th.

Nouveau Monde Graphite Stock Down 3.6 %

Shares of NYSE NMG opened at $1.46 on Tuesday. The stock has a market capitalization of $163.92 million, a P/E ratio of -2.28 and a beta of 0.78. The stock’s fifty day moving average is $1.79 and its 200 day moving average is $1.62. Nouveau Monde Graphite has a 52 week low of $1.22 and a 52 week high of $2.57. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.74 and a current ratio of 1.74.

Institutional Investors Weigh In On Nouveau Monde Graphite

A number of large investors have recently modified their holdings of NMG. SBI Securities Co. Ltd. acquired a new position in shares of Nouveau Monde Graphite during the 4th quarter worth $26,000. Millennium Management LLC grew its position in Nouveau Monde Graphite by 51.9% in the fourth quarter. Millennium Management LLC now owns 47,755 shares of the company’s stock valued at $76,000 after acquiring an additional 16,312 shares during the last quarter. Bank of Montreal Can grew its position in Nouveau Monde Graphite by 46.2% in the fourth quarter. Bank of Montreal Can now owns 48,430 shares of the company’s stock valued at $76,000 after acquiring an additional 15,300 shares during the last quarter. Quinn Opportunity Partners LLC raised its stake in 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 acquiring an additional 50,000 shares in the last quarter. Finally, National Bank of Canada FI lifted its holdings 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 acquiring an additional 7,871 shares during the last quarter. Institutional investors and hedge funds 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.