Bank of Montreal Can acquired a new stake in Nouveau Monde Graphite Inc. (NYSE:NMG – Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 463,328 shares of the company’s stock, valued at approximately $1,521,000. Bank of Montreal Can owned about 0.76% of Nouveau Monde Graphite at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. LPL Financial LLC acquired a new stake in shares of Nouveau Monde Graphite in the second quarter valued at approximately $53,000. Jane Street Group LLC purchased a new position in Nouveau Monde Graphite during the first quarter worth $57,000. Bank of America Corp DE purchased a new position in Nouveau Monde Graphite during the first quarter worth $115,000. Morgan Stanley raised its holdings in shares of Nouveau Monde Graphite by 22.9% in the fourth quarter. Morgan Stanley now owns 17,599 shares of the company’s stock worth $67,000 after acquiring an additional 3,281 shares during the last quarter. Finally, Spartan Fund Management Inc. purchased a new stake in shares of Nouveau Monde Graphite in the second quarter valued at $76,000. 6.91% of the stock is currently owned by hedge funds and other institutional investors.
Nouveau Monde Graphite Stock Up 1.4 %
Shares of NYSE NMG opened at $2.85 on Friday. The firm has a market cap of $173.58 million, a P/E ratio of -4.60 and a beta of 0.71. The company has a debt-to-equity ratio of 0.68, a quick ratio of 7.40 and a current ratio of 7.39. Nouveau Monde Graphite Inc. has a 1 year low of $1.85 and a 1 year high of $5.97. The firm’s 50 day moving average price is $2.51 and its 200 day moving average price is $2.95.
Analysts Set New Price Targets
Separately, HC Wainwright restated a “buy” rating and issued a $9.00 target price on shares of Nouveau Monde Graphite in a report on Wednesday, August 23rd.
About Nouveau Monde Graphite
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.
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