Nouveau Monde Graphite (NYSE:NMG) Given New $2.75 Price Target at HC Wainwright

Nouveau Monde Graphite (NYSE:NMG - Get Free Report) had its price objective reduced by research analysts at HC Wainwright from $3.00 to $2.75 in a report issued on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the stock. HC Wainwright's price target indicates a potential upside of 103.55% from the company's previous close. HC Wainwright also issued estimates for Nouveau Monde Graphite's FY2025 earnings at ($0.46) EPS.

Separately, Roth Mkm dropped their price objective on shares of Nouveau Monde Graphite from $3.00 to $2.40 and set a "buy" rating on the stock in a research note on Wednesday, March 26th.

Nouveau Monde Graphite Stock Down 8.1 %

Shares of NMG stock traded down $0.12 on Tuesday, reaching $1.35. 59,112 shares of the company's stock traded hands, compared to its average volume of 66,539. The company has a market capitalization of $152.09 million, a P/E ratio of -2.11 and a beta of 0.76. Nouveau Monde Graphite has a 12-month low of $1.22 and a 12-month high of $2.57. 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 business's 50 day moving average price is $1.73 and its two-hundred day moving average price is $1.62.

Nouveau Monde Graphite (NYSE:NMG - Get Free Report) last released 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). On average, equities analysts forecast that Nouveau Monde Graphite will post -0.47 earnings per share for the current year.

Institutional Investors Weigh In On Nouveau Monde Graphite

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quinn Opportunity Partners LLC grew its stake 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 valued at $118,000 after buying an additional 50,000 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Nouveau Monde Graphite during the 4th quarter valued at $26,000. Millennium Management LLC raised its holdings in shares of Nouveau Monde Graphite by 51.9% during the 4th 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 holdings in Nouveau Monde Graphite by 46.2% in the fourth quarter. Bank of Montreal Can now owns 48,430 shares of the company's stock worth $76,000 after purchasing an additional 15,300 shares in the last quarter. Finally, National Bank of Canada FI increased its position in 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 during the last quarter. 41.09% of the stock is owned by hedge funds and other institutional investors.

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.