Nouveau Monde Graphite (NYSE:NMG) Price Target Lowered to $2.40 at Roth Mkm

Nouveau Monde Graphite (NYSE:NMG) had its target price decreased by Roth Mkm from $3.00 to $2.40 in a research note issued to investors on Wednesday,Benzinga reports. Roth Mkm currently has a buy rating on the stock.

Separately, HC Wainwright reissued a “buy” rating and issued a $3.00 price objective on shares of Nouveau Monde Graphite in a research note on Tuesday, December 17th.

Nouveau Monde Graphite Stock Down 3.2 %

NMG stock opened at $1.51 on Wednesday. Nouveau Monde Graphite has a 12 month low of $1.22 and a 12 month high of $2.57. The firm has a market cap of $169.99 million, a PE ratio of -2.36 and a beta of 0.78. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.74 and a quick ratio of 1.74. The firm has a 50 day simple moving average of $1.80 and a 200 day simple moving average of $1.62.

Institutional Investors Weigh In On Nouveau Monde Graphite

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. acquired a new stake in shares of Nouveau Monde Graphite in the fourth quarter valued at about $26,000. Millennium Management LLC boosted its holdings 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 worth $76,000 after acquiring an additional 16,312 shares in the last quarter. Bank of Montreal Can grew its holdings in Nouveau Monde Graphite by 46.2% during 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 during the last quarter. Quinn Opportunity Partners LLC lifted its stake 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 valued at $118,000 after acquiring an additional 50,000 shares during the period. Finally, National Bank of Canada FI lifted its holdings in 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 valued at $196,000 after buying an additional 7,871 shares during the period. 41.09% of the stock is currently owned by institutional investors and hedge funds.

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.