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

Shares of Nouveau Monde Graphite Inc. (NYSE:NMG) dropped 4.3% during trading on Friday . The company traded as low as $1.32 and last traded at $1.33. Approximately 41,258 shares changed hands during mid-day trading, a decline of 54% from the average daily volume of 88,979 shares. The stock had previously closed at $1.39.

Analyst Ratings Changes

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

Nouveau Monde Graphite Trading Down 5.0 %

The company has a market cap of $148.60 million, a P/E ratio of -2.06 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. The business has a 50 day moving average price of $1.40 and a 200-day moving average price of $1.59.

Institutional Trading of Nouveau Monde Graphite

A hedge fund recently raised its stake in Nouveau Monde Graphite stock. National Bank of Canada FI boosted its position in Nouveau Monde Graphite Inc. (NYSE:NMG) by 6.7% in the 3rd quarter, according to 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 quarter. National Bank of Canada FI owned about 0.11% of Nouveau Monde Graphite worth $196,000 at the end of the most recent reporting period. 41.09% of the stock is currently owned by hedge funds and other institutional investors.

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.