Nouveau Monde Graphite (NYSE:NMG) Upgraded by Zacks Research to “Hold” Rating

Zacks Research upgraded shares of Nouveau Monde Graphite (NYSE:NMG) from a strong sell rating to a hold rating in a research note issued to investors on Monday morning,Zacks.com reports.

Other equities research analysts also recently issued research reports about the stock. BMO Capital Markets started coverage on shares of Nouveau Monde Graphite in a research note on Friday. They set an “outperform” rating for the company. National Bank Financial upgraded Nouveau Monde Graphite to a “hold” rating in a research note on Thursday, September 11th. Roth Capital set a $4.70 price target on Nouveau Monde Graphite and gave the stock a “buy” rating in a research note on Thursday, October 16th. Wall Street Zen downgraded Nouveau Monde Graphite to a “strong sell” rating in a report on Saturday, November 1st. Finally, National Bankshares raised shares of Nouveau Monde Graphite to an “outperform” rating in a research note on Monday, November 3rd. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Nouveau Monde Graphite has a consensus rating of “Moderate Buy” and a consensus target price of $4.87.

Nouveau Monde Graphite Stock Up 4.5%

NMG opened at $3.18 on Monday. The business’s 50-day simple moving average is $3.00 and its 200-day simple moving average is $2.33. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.62 and a current ratio of 0.62. Nouveau Monde Graphite has a one year low of $1.30 and a one year high of $6.06. The stock has a market capitalization of $484.17 million, a P/E ratio of -4.82 and a beta of 0.86.

Nouveau Monde Graphite (NYSE:NMG) last issued its quarterly earnings data on Wednesday, November 12th. The company reported ($0.06) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.06). Analysts anticipate that Nouveau Monde Graphite will post -0.47 EPS for the current year.

Institutional Trading of Nouveau Monde Graphite

Several hedge funds and other institutional investors have recently bought and sold shares of the company. XTX Topco Ltd lifted its stake in shares of Nouveau Monde Graphite by 100.8% during the 2nd quarter. XTX Topco Ltd now owns 25,522 shares of the company’s stock worth $42,000 after purchasing an additional 12,811 shares during the period. Banque Cantonale Vaudoise acquired a new stake in Nouveau Monde Graphite in the 3rd quarter worth about $58,000. Susquehanna International Group LLP acquired a new stake in Nouveau Monde Graphite in the 3rd quarter worth about $96,000. Brookwood Investment Group LLC purchased a new stake in Nouveau Monde Graphite in the 3rd quarter valued at about $152,000. Finally, Millennium Management LLC purchased a new position in shares of Nouveau Monde Graphite during the 3rd quarter worth about $196,000. 41.09% of the stock is owned by hedge funds and other institutional investors.

About Nouveau Monde Graphite

Nouveau Monde Graphite Inc engages in the acquisition, exploration, development, and evaluation of mineral properties in Quebec, Canada. It primarily explores for graphite. The company’s flagship property is the 100% owned Matawinie graphite property including 176 mining claims covering an area of 9,264 hectares located in Quebec.