Nouveau Monde Graphite (NYSE:NMG – Get Free Report) had its target price dropped by research analysts at HC Wainwright from $3.25 to $3.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s target price indicates a potential upside of 104.08% from the stock’s current price.
Nouveau Monde Graphite Stock Performance
Nouveau Monde Graphite stock opened at $1.47 on Wednesday. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.02. Nouveau Monde Graphite has a twelve month low of $1.24 and a twelve month high of $3.21. The company’s 50-day moving average price is $1.65 and its 200-day moving average price is $2.00. The company has a market cap of $165.35 million, a PE ratio of -2.04 and a beta of 0.82.
Institutional Investors Weigh In On Nouveau Monde Graphite
A hedge fund recently raised its stake in Nouveau Monde Graphite stock. National Bank of Canada FI increased its stake in Nouveau Monde Graphite Inc. (NYSE:NMG – Free Report) by 15.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 119,338 shares of the company’s stock after buying an additional 15,640 shares during the quarter. National Bank of Canada FI owned about 0.20% of Nouveau Monde Graphite worth $306,000 as of its most recent SEC filing. Institutional investors 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 Canada. It primarily explores for graphite. The company's holds interest in the Matawinie Mine Project and the Battery Material Plant project situated in the Montreal, Quebec.
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