Nouveau Monde price target lowered to $3 from $3.50 at Roth MKM

Roth MKM lowered the firm’s price target on Nouveau Monde (NMG) to $3 from $3.50 and keeps a Buy rating on the shares. The firm is positive on the update on the company’s advancement of its Phase-2 Matawinie Mine and Becancour Battery Material Plant as the management highlighted that it intends to release an integrated feasibility study in Q1 2025 that would allow the company to move forward to Final Investment Decision, though its price target cut reflects Nouveau’s increased dilution assumptions, the analyst tells investors in a research note.