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

Nouveau Monde Graphite (NYSE:NMG) had its price target reduced by stock analysts at Roth Mkm from $3.00 to $2.40 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Roth Mkm’s price objective points to a potential upside of 53.85% from the stock’s current price.

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

Nouveau Monde Graphite Stock Down 3.7 %

NYSE NMG opened at $1.56 on Wednesday. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.02. Nouveau Monde Graphite has a 52 week low of $1.22 and a 52 week high of $2.57. The firm has a market capitalization of $175.62 million, a price-to-earnings ratio of -2.44 and a beta of 0.78. The company has a fifty day moving average of $1.82 and a two-hundred day moving average of $1.62.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. SBI Securities Co. Ltd. purchased a new stake in Nouveau Monde Graphite in the fourth quarter worth about $26,000. Millennium Management LLC raised its holdings in shares of Nouveau Monde Graphite by 51.9% in 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. Bank of Montreal Can lifted its holdings in Nouveau Monde Graphite by 46.2% during the fourth quarter. Bank of Montreal Can now owns 48,430 shares of the company’s stock worth $76,000 after buying an additional 15,300 shares during the period. Quinn Opportunity Partners LLC boosted its position in Nouveau Monde Graphite by 207.7% during the 4th 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. Finally, National Bank of Canada FI increased its holdings in shares of Nouveau Monde Graphite by 6.7% in the 3rd 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 during the period. 41.09% of the stock is currently owned by hedge funds and other institutional investors.

Nouveau Monde Graphite Company Profile

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.