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

Nouveau Monde Graphite (NYSE:NMG) had its price target lowered by analysts at Roth Mkm from $3.00 to $2.40 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Roth Mkm’s price target points to a potential upside of 48.61% from the company’s previous close.

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

Nouveau Monde Graphite Stock Performance

NYSE:NMG traded down $0.03 during mid-day trading on Wednesday, hitting $1.62. 11,621 shares of the company’s stock traded hands, compared to its average volume of 66,977. The firm has a 50 day moving average of $1.84 and a two-hundred day moving average of $1.62. The firm has a market capitalization of $181.82 million, a price-to-earnings ratio of -2.53 and a beta of 0.78. Nouveau Monde Graphite has a 12 month low of $1.22 and a 12 month 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.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quinn Opportunity Partners LLC lifted its position in Nouveau Monde Graphite by 207.7% in 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. SBI Securities Co. Ltd. acquired a new stake in shares of Nouveau Monde Graphite in the 4th quarter valued at about $26,000. Millennium Management LLC lifted 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 purchasing an additional 16,312 shares in the last quarter. Bank of Montreal Can boosted its position 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 worth $76,000 after buying an additional 15,300 shares during the period. Finally, National Bank of Canada FI grew its holdings in shares of Nouveau Monde Graphite by 6.7% during the third quarter. National Bank of Canada FI now owns 124,610 shares of the company’s stock worth $196,000 after buying 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.