Roth Mkm Issues Pessimistic Forecast for Nouveau Monde Graphite (NYSE:NMG) Stock Price

Nouveau Monde Graphite (NYSE:NMG) had its price target decreased by investment analysts at Roth Mkm from $3.00 to $2.40 in a research note issued 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 48.61% from the stock’s current price.

Separately, HC Wainwright restated a “buy” rating and issued 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 Nouveau Monde Graphite stock traded down $0.03 on Wednesday, hitting $1.62. The company’s stock had a trading volume of 11,621 shares, compared to its average volume of 66,977. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.02. The firm has a fifty day moving average price of $1.84 and a 200-day moving average price of $1.62. Nouveau Monde Graphite has a 52-week low of $1.22 and a 52-week high of $2.57. The company has a market capitalization of $181.82 million, a P/E ratio of -2.53 and a beta of 0.78.

Institutional Investors Weigh In On Nouveau Monde Graphite

Several large investors have recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new position in Nouveau Monde Graphite in the 4th quarter valued at about $26,000. Millennium Management LLC lifted its stake 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 worth $76,000 after acquiring an additional 16,312 shares during the period. Bank of Montreal Can lifted its stake in shares of Nouveau Monde Graphite by 46.2% in the 4th quarter. Bank of Montreal Can now owns 48,430 shares of the company’s stock worth $76,000 after acquiring an additional 15,300 shares during the period. Quinn Opportunity Partners LLC boosted its holdings 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. Finally, National Bank of Canada FI lifted its holdings in 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 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.