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

Nouveau Monde Graphite (NYSE:NMG) had its price objective reduced by HC Wainwright from $3.00 to $2.75 in a report issued on Tuesday morning,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

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

Nouveau Monde Graphite Trading Down 2.0 %

Shares of NYSE NMG opened at $1.48 on Tuesday. 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 stock’s 50 day moving average price is $1.77 and its two-hundred day moving average price is $1.62. Nouveau Monde Graphite has a 52-week low of $1.22 and a 52-week high of $2.57. The stock has a market capitalization of $166.62 million, a P/E ratio of -2.31 and a beta of 0.78.

Nouveau Monde Graphite (NYSE:NMG) last issued its quarterly earnings results on Monday, March 31st. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.08). On average, analysts anticipate that Nouveau Monde Graphite will post -0.47 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nouveau Monde Graphite

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. SBI Securities Co. Ltd. acquired a new position in shares of Nouveau Monde Graphite during the fourth quarter valued at $26,000. Millennium Management LLC increased 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 worth $76,000 after acquiring an additional 16,312 shares during the period. Bank of Montreal Can lifted its position in Nouveau Monde Graphite by 46.2% in the 4th quarter. Bank of Montreal Can now owns 48,430 shares of the company’s stock valued at $76,000 after purchasing an additional 15,300 shares during the last quarter. Quinn Opportunity Partners LLC boosted its stake 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 purchasing an additional 50,000 shares during the period. Finally, National Bank of Canada FI boosted its stake in 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 purchasing an additional 7,871 shares during the period. 41.09% of the stock is currently owned by institutional investors and hedge funds.

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.