Nouveau Monde Graphite Inc. (NYSE:NMG - Get Free Report) traded down 4.3% during trading on Friday . The company traded as low as $1.32 and last traded at $1.33. 41,258 shares traded hands during mid-day trading, a decline of 54% from the average session volume of 88,979 shares. The stock had previously closed at $1.39.
Analyst Ratings Changes
Separately, HC Wainwright dropped their price target on Nouveau Monde Graphite from $3.25 to $3.00 and set a "buy" rating for the company in a research note on Wednesday, September 4th.
Read Our Latest Stock Analysis on Nouveau Monde Graphite
Nouveau Monde Graphite Stock Performance
The firm's 50 day simple moving average is $1.40 and its 200 day simple moving average is $1.59. The firm has a market cap of $148.60 million, a PE ratio of -2.08 and a beta of 0.79. 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 Investors Weigh In On Nouveau Monde Graphite
A hedge fund recently raised its stake in Nouveau Monde Graphite stock. National Bank of Canada FI raised its position in shares of Nouveau Monde Graphite Inc. (NYSE:NMG - Free Report) by 6.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 124,610 shares of the company's stock after acquiring an additional 7,871 shares during the period. National Bank of Canada FI owned approximately 0.11% of Nouveau Monde Graphite worth $196,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 41.09% of the stock is currently owned by hedge funds and other institutional investors.
Nouveau Monde Graphite Company Profile
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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.
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