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

Nouveau Monde Graphite (NYSE:NMG) had its price objective trimmed by Roth Mkm from $3.00 to $2.40 in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Separately, HC Wainwright restated a “buy” rating and set a $3.00 price target on shares of Nouveau Monde Graphite in a report on Tuesday, December 17th.

Nouveau Monde Graphite Stock Performance

NMG stock opened at $1.59 on Wednesday. Nouveau Monde Graphite has a 1-year low of $1.22 and a 1-year high of $2.57. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.02. The stock has a 50-day moving average price of $1.83 and a 200-day moving average price of $1.62. The firm has a market cap of $178.44 million, a PE ratio of -2.48 and a beta of 0.78.

Institutional Trading of Nouveau Monde Graphite

Several large investors have recently made changes to their positions in the company. National Bank of Canada FI boosted 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 worth $196,000 after acquiring an additional 7,871 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Nouveau Monde Graphite during the fourth quarter worth approximately $26,000. Bank of Montreal Can lifted its holdings 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 purchasing an additional 15,300 shares in the last quarter. Quinn Opportunity Partners LLC grew its position in Nouveau Monde Graphite by 207.7% in the 4th quarter. Quinn Opportunity Partners LLC now owns 74,068 shares of the company’s stock valued at $118,000 after purchasing an additional 50,000 shares during the period. Finally, Millennium Management LLC increased its stake in Nouveau Monde Graphite by 51.9% during the 4th quarter. Millennium Management LLC now owns 47,755 shares of the company’s stock valued at $76,000 after purchasing an additional 16,312 shares in the last quarter. 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.