HC Wainwright Has Lowered Expectations for Nouveau Monde Graphite (NYSE:NMG) Stock Price

Nouveau Monde Graphite (NYSE:NMG) had its price objective reduced by investment analysts at HC Wainwright from $3.00 to $2.75 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price objective indicates a potential upside of 79.74% from the stock’s previous close.

Separately, Roth Mkm reduced their target price on shares of Nouveau Monde Graphite from $3.00 to $2.40 and set a “buy” rating for the company in a research note on Wednesday, March 26th.

Nouveau Monde Graphite Stock Up 0.7 %

NYSE:NMG opened at $1.53 on Tuesday. The firm has a market capitalization of $172.25 million, a PE ratio of -2.39 and a beta of 0.78. Nouveau Monde Graphite has a 52 week low of $1.22 and a 52 week 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 of $1.76 and a 200-day moving average of $1.62.

Nouveau Monde Graphite (NYSE:NMG) last issued its earnings results on Monday, March 31st. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.08). Analysts predict that Nouveau Monde Graphite will post -0.47 EPS for the current year.

Institutional Investors Weigh In On Nouveau Monde Graphite

Several institutional investors have recently bought and sold shares of NMG. SBI Securities Co. Ltd. acquired a new position in Nouveau Monde Graphite during the 4th quarter valued at about $26,000. Millennium Management LLC boosted its holdings in shares of Nouveau Monde Graphite by 51.9% in the fourth quarter. Millennium Management LLC now owns 47,755 shares of the company’s stock valued at $76,000 after acquiring an additional 16,312 shares in the last quarter. Bank of Montreal Can increased its stake in shares of Nouveau Monde Graphite by 46.2% during the fourth quarter. Bank of Montreal Can now owns 48,430 shares of the company’s stock valued at $76,000 after acquiring an additional 15,300 shares during the period. Quinn Opportunity Partners LLC raised its holdings in Nouveau Monde Graphite by 207.7% during the fourth quarter. Quinn Opportunity Partners LLC now owns 74,068 shares of the company’s stock worth $118,000 after purchasing an additional 50,000 shares in the last quarter. Finally, National Bank of Canada FI lifted its position 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 purchasing an additional 7,871 shares during the period. Institutional investors and hedge funds 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 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.