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

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

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

Nouveau Monde Graphite Price Performance

Shares of NYSE NMG opened at $1.51 on Wednesday. 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 market cap of $169.99 million, a P/E ratio of -2.36 and a beta of 0.78. Nouveau Monde Graphite has a twelve month low of $1.22 and a twelve month high of $2.57. The stock has a 50 day moving average of $1.80 and a two-hundred day moving average of $1.62.

Institutional Trading of Nouveau Monde Graphite

Large investors have recently bought and sold shares of the company. Quinn Opportunity Partners LLC lifted its position in shares of Nouveau Monde Graphite by 207.7% in 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 in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Nouveau Monde Graphite during the 4th quarter valued at about $26,000. 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 worth $76,000 after buying an additional 16,312 shares during the period. Bank of Montreal Can grew its stake 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 valued at $76,000 after purchasing an additional 15,300 shares in the last quarter. Finally, National Bank of Canada FI raised 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 acquiring an additional 7,871 shares in the last quarter. Institutional investors and hedge funds own 41.09% of the company’s stock.

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.