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 note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Roth Mkm’s price objective would suggest a potential upside of 53.85% from the stock’s previous close.

Separately, HC Wainwright reiterated 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 Price Performance

NMG stock opened at $1.56 on Wednesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.74 and a current ratio of 1.74. The company’s fifty day moving average price is $1.82 and its 200-day moving average price is $1.62. Nouveau Monde Graphite has a one year low of $1.22 and a one year high of $2.57. The company has a market capitalization of $175.62 million, a PE ratio of -2.44 and a beta of 0.78.

Institutional Trading of Nouveau Monde Graphite

A number of large investors have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new position in shares of Nouveau Monde Graphite in the fourth quarter valued at $26,000. Millennium Management LLC lifted its position in Nouveau Monde Graphite by 51.9% during 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 during the last quarter. Bank of Montreal Can grew 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 buying an additional 15,300 shares in the last quarter. Quinn Opportunity Partners LLC increased its holdings in shares of Nouveau Monde Graphite by 207.7% in the 4th quarter. Quinn Opportunity Partners LLC now owns 74,068 shares of the company’s stock worth $118,000 after buying an additional 50,000 shares during the last quarter. Finally, National Bank of Canada FI raised its position in shares of Nouveau Monde Graphite by 6.7% during the 3rd quarter. National Bank of Canada FI now owns 124,610 shares of the company’s stock valued at $196,000 after buying an additional 7,871 shares in the last quarter. Institutional investors 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.