Nouveau Monde Graphite’s (NMG) Buy Rating Reaffirmed at HC Wainwright

Nouveau Monde Graphite (NYSE:NMG)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a note issued to investors on Tuesday,Benzinga reports. They presently have a $3.00 target price on the stock. HC Wainwright’s price target suggests a potential upside of 76.47% from the stock’s current price.

Nouveau Monde Graphite Stock Performance

Shares of NMG opened at $1.70 on Tuesday. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.02. The firm has a market cap of $191.38 million, a PE ratio of -2.66 and a beta of 0.79. Nouveau Monde Graphite has a 12 month low of $1.22 and a 12 month high of $3.07. The stock has a fifty day moving average price of $1.40 and a 200-day moving average price of $1.58.

Institutional Trading of Nouveau Monde Graphite

An institutional investor recently raised its position in Nouveau Monde Graphite stock. National Bank of Canada FI lifted its stake in Nouveau Monde Graphite Inc. (NYSE:NMG) by 6.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 124,610 shares of the company’s stock after buying an additional 7,871 shares during the quarter. National Bank of Canada FI owned approximately 0.11% of Nouveau Monde Graphite worth $196,000 as of its most recent SEC filing. 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.