Nouveau Monde Graphite (NYSE:NMG) Shares Down 4.3% – Here’s Why

Nouveau Monde Graphite Inc. (NYSE:NMG) fell 4.3% on Friday . The company traded as low as $1.32 and last traded at $1.33. 41,258 shares changed 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.

Analysts Set New Price Targets

Separately, HC Wainwright decreased their price target on Nouveau Monde Graphite from $3.25 to $3.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th.

Nouveau Monde Graphite Stock Down 5.0 %

The stock has a market cap of $148.60 million, a P/E ratio of -2.06 and a beta of 0.79. The firm’s fifty day moving average is $1.40 and its 200 day moving average is $1.59. 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

An institutional investor recently raised its position in Nouveau Monde Graphite stock. National Bank of Canada FI raised its stake in Nouveau Monde Graphite Inc. (NYSE:NMG) by 6.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 124,610 shares of the company’s stock after purchasing 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 SEC filing. Hedge funds and other institutional investors own 41.09% of the company’s stock.

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.