Nouveau Monde Graphite (NYSE:NMG) Price Target Lowered to $3.00 at HC Wainwright

Nouveau Monde Graphite (NYSE:NMGFree Report) had its price target lowered by HC Wainwright from $3.25 to $3.00 in a research report released on Wednesday, Benzinga reports. HC Wainwright currently has a buy rating on the stock.

Nouveau Monde Graphite Price Performance

Shares of NMG opened at $1.44 on Wednesday. The stock’s 50 day moving average is $1.64 and its two-hundred day moving average is $1.98. Nouveau Monde Graphite has a twelve month low of $1.24 and a twelve month high of $3.21. The firm has a market capitalization of $161.41 million, a PE ratio of -1.99 and a beta of 0.83. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.02.

Nouveau Monde Graphite (NYSE:NMGGet Free Report) last issued its earnings results on Wednesday, August 14th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.03. Research analysts anticipate that Nouveau Monde Graphite will post -0.56 earnings per share for the current year.

Institutional Investors Weigh In On Nouveau Monde Graphite

A hedge fund recently bought a new stake in Nouveau Monde Graphite stock. General Motors Holdings LLC acquired a new position in shares of Nouveau Monde Graphite Inc. (NYSE:NMGFree Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 12,500,000 shares of the company’s stock, valued at approximately $28,625,000. Nouveau Monde Graphite comprises about 10.7% of General Motors Holdings LLC’s investment portfolio, making the stock its 4th biggest position. General Motors Holdings LLC owned 18.63% of Nouveau Monde Graphite as of its most recent filing with the Securities & Exchange Commission. 41.09% of the stock is currently owned by hedge funds and other institutional investors.

About Nouveau Monde Graphite

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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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