Nouveau Monde Graphite (NYSE:NMG) Trading Down 3.2% – Here’s What Happened

Nouveau Monde Graphite Inc. (NYSE:NMG) shares dropped 3.2% during mid-day trading on Thursday . The company traded as low as $1.48 and last traded at $1.49. Approximately 26,004 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 92,798 shares. The stock had previously closed at $1.54.

Analysts Set New Price Targets

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

Nouveau Monde Graphite Trading Down 2.7 %

The firm has a market cap of $163.10 million, a PE ratio of -2.01 and a beta of 0.84. The firm has a fifty day simple moving average of $1.53 and a two-hundred day simple moving average of $1.77. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.02.

Nouveau Monde Graphite (NYSE:NMG) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.03. Equities analysts forecast that Nouveau Monde Graphite Inc. will post -0.52 EPS for the current year.

Institutional Investors Weigh In On Nouveau Monde Graphite

An institutional investor recently bought a new position in Nouveau Monde Graphite stock. General Motors Holdings LLC purchased a new position in Nouveau Monde Graphite Inc. (NYSE:NMG) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 12,500,000 shares of the company’s stock, valued at approximately $28,625,000. Nouveau Monde Graphite comprises about 10.7% of General Motors Holdings LLC’s investment portfolio, making the stock its 4th biggest holding. General Motors Holdings LLC owned 18.63% of Nouveau Monde Graphite as of its most recent filing with the SEC. 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.