Roth Mkm Has Lowered Expectations for Nouveau Monde Graphite (NYSE:NMG) Stock Price

Nouveau Monde Graphite (NYSE:NMG - Free Report) had its target price reduced by Roth Mkm from $3.00 to $2.40 in a research note issued to investors on Wednesday,Benzinga reports. Roth Mkm currently has a buy rating on the stock.

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 Stock Down 3.2 %

NYSE NMG traded down $0.05 during trading hours on Wednesday, hitting $1.51. 65,341 shares of the company were exchanged, compared to its average volume of 66,605. The company has a 50 day moving average of $1.80 and a two-hundred day moving average of $1.62. 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 market cap of $169.99 million, a price-to-earnings ratio of -2.36 and a beta of 0.78. Nouveau Monde Graphite has a 52-week low of $1.22 and a 52-week high of $2.57.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. National Bank of Canada FI boosted its holdings in Nouveau Monde Graphite by 6.7% in the third 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 in the last quarter. Quinn Opportunity Partners LLC boosted its stake in shares of Nouveau Monde Graphite by 207.7% during the fourth 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 period. Bank of Montreal Can grew its holdings in shares of Nouveau Monde Graphite by 46.2% during the fourth 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 during the last quarter. Millennium Management LLC increased its position in Nouveau Monde Graphite by 51.9% in the 4th quarter. Millennium Management LLC now owns 47,755 shares of the company's stock valued at $76,000 after acquiring an additional 16,312 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new stake in Nouveau Monde Graphite during the 4th quarter valued at approximately $26,000. 41.09% of the stock is owned by institutional investors and hedge funds.

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.