Nouveau Monde price target lowered to $2.40 from $3 at Roth MKM

Roth MKM lowered the firm’s price target on Nouveau Monde (NMG) to $2.40 from $3 and keeps a Buy rating on the shares. The company announced the results of an updated feasibility study for the integrated Matawinie Mine and anode facility, with initial capex having increased significantly which negatively impacted the firm’s valuation, the analyst tells investors in a research note.