Van ECK Associates Corp, a prominent investment management firm, made a significant move in the 4th quarter by reducing its position in Nouveau Monde Graphite Inc. The firm sold 17,040 shares, representing a 4.0% decrease in its holdings. Despite the reduction, Van ECK Associates Corp still owned 404,163 shares of the company’s stock, valued at $1,055,000 as per their recent filing with the Securities and Exchange Commission.
On the other hand, Richelieu Gestion SA increased its holdings in Nouveau Monde Graphite during the same period by 7.8%. The firm now owns 911,949 shares of the company’s stock, worth $2,380,000 after acquiring an additional 66,115 shares. Institutional investors and hedge funds collectively own 41.09% of the stock.
Nouveau Monde Graphite’s market performance has been closely watched, with the stock opening at $2.06 on Friday. The company has a market cap of $138.25 million, a PE ratio of -2.82, and a beta of 0.83. Analysts predict that the company will post -0.31 earnings per share for the current year based on its latest quarterly earnings report.
Nouveau Monde Graphite Inc. is involved in the acquisition, exploration, and development of mineral properties in Canada, primarily focusing on graphite. The company’s projects include the Matawinie Mine Project and the Battery Material Plant project in Montreal, Quebec.
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