Richelieu Gestion SA Sells 285,453 Shares of Nouveau Monde Graphite Inc. (NYSE:NMG)

Richelieu Gestion SA lowered its holdings in shares of Nouveau Monde Graphite Inc. (NYSE:NMG) by 31.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 626,496 shares of the company’s stock after selling 285,453 shares during the quarter. Richelieu Gestion SA owned about 0.93% of Nouveau Monde Graphite worth $1,435,000 as of its most recent filing with the Securities and Exchange Commission.

Separately, Kestra Advisory Services LLC acquired a new position in Nouveau Monde Graphite in the 3rd quarter valued at $268,000. 41.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, HC Wainwright lowered their target price on shares of Nouveau Monde Graphite from $8.00 to $3.25 and set a “buy” rating on the stock in a research note on Thursday, May 30th.

Nouveau Monde Graphite Stock Performance

NYSE NMG traded up $0.01 during midday trading on Wednesday, hitting $1.90. The company had a trading volume of 29,663 shares, compared to its average volume of 130,423. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.03. The firm has a fifty day simple moving average of $2.05 and a two-hundred day simple moving average of $2.26. Nouveau Monde Graphite Inc. has a fifty-two week low of $1.85 and a fifty-two week high of $3.21. The stock has a market cap of $213.15 million, a price-to-earnings ratio of -2.64 and a beta of 0.87.

Nouveau Monde Graphite (NYSE:NMG) last issued its quarterly earnings data on Tuesday, May 14th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.25). Equities analysts forecast that Nouveau Monde Graphite Inc. will post -0.5 earnings per share for the current fiscal year.

Nouveau Monde Graphite Profile

Nouveau Monde Graphite Inc engages in the acquisition, exploration, development, and evaluation of mineral properties in Canada. It primarily explores for graphite. The company's holds interest in the Matawinie Mine Project and the Battery Material Plant project situated in the Montreal, Quebec.