Nouveau Monde Graphite’s (NMG) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Nouveau Monde Graphite (NYSE:NMG) in a research report report published on Tuesday morning,Benzinga reports. HC Wainwright currently has a $3.00 price objective on the stock.

Nouveau Monde Graphite Trading Down 4.1 %

Shares of NYSE:NMG opened at $1.63 on Tuesday. Nouveau Monde Graphite has a 1 year low of $1.22 and a 1 year high of $3.07. The stock’s fifty day moving average price is $1.40 and its 200-day moving average price is $1.58. The company has a market cap of $183.50 million, a P/E ratio of -2.55 and a beta of 0.79. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.74 and a quick ratio of 1.74.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Nouveau Monde Graphite stock. National Bank of Canada FI grew its position in shares of Nouveau Monde Graphite Inc. (NYSE:NMG) by 6.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 124,610 shares of the company’s stock after buying an additional 7,871 shares during the quarter. National Bank of Canada FI owned 0.11% of Nouveau Monde Graphite worth $196,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 41.09% of the stock is owned by hedge funds and other institutional investors.

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.