Nouveau Monde Graphite (NYSE:NMG) Raised to “Strong-Buy” at National Bank Financial

Nouveau Monde Graphite (NYSE:NMG) was upgraded by equities researchers at National Bank Financial to a “strong-buy” rating in a research report issued to clients and investors on Friday,Zacks.com reports.

Several other equities research analysts also recently issued reports on the company. Maxim Group initiated coverage on Nouveau Monde Graphite in a report on Tuesday, January 20th. They set a “buy” rating and a $6.00 price objective on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Nouveau Monde Graphite in a report on Thursday, January 22nd. Finally, HC Wainwright dropped their price objective on Nouveau Monde Graphite from $7.50 to $5.50 and set a “buy” rating on the stock in a report on Friday, January 30th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $5.40.

Nouveau Monde Graphite Stock Performance

Nouveau Monde Graphite stock opened at $2.19 on Friday. The stock’s 50 day moving average price is $2.20 and its 200 day moving average price is $2.64. The firm has a market capitalization of $352.22 million, a PE ratio of -4.47 and a beta of 0.84. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.87 and a current ratio of 0.87. Nouveau Monde Graphite has a one year low of $1.58 and a one year high of $6.06.

Nouveau Monde Graphite (NYSE:NMG) last released its quarterly earnings results on Wednesday, March 25th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.10. As a group, sell-side analysts expect that Nouveau Monde Graphite will post -0.47 EPS for the current fiscal year.

Institutional Investors Weigh In On Nouveau Monde Graphite

Several hedge funds and other institutional investors have recently bought and sold shares of NMG. Millennium Management LLC increased its holdings in shares of Nouveau Monde Graphite by 405.9% in the 4th quarter. Millennium Management LLC now owns 349,950 shares of the company’s stock valued at $868,000 after acquiring an additional 280,771 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Nouveau Monde Graphite in the 4th quarter valued at approximately $380,000. Bank of Montreal Can increased its holdings in shares of Nouveau Monde Graphite by 236.1% in the 4th quarter. Bank of Montreal Can now owns 164,312 shares of the company’s stock valued at $401,000 after acquiring an additional 115,424 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Nouveau Monde Graphite by 886.7% in the 4th quarter. Renaissance Technologies LLC now owns 111,500 shares of the company’s stock valued at $277,000 after acquiring an additional 100,200 shares during the last quarter. Finally, K.J. Harrison & Partners Inc bought a new stake in shares of Nouveau Monde Graphite in the 3rd quarter valued at approximately $269,000. 41.09% of the stock is currently owned by hedge funds and other institutional investors.

Nouveau Monde Graphite Company Profile

Nouveau Monde Graphite is a Canadian mineral development company focused on the exploration, development and production of high-purity natural graphite for the electric vehicle and energy storage markets. The company’s flagship Matawinie graphite project, located north of Montreal in the province of Québec, represents one of the largest known high-grade natural graphite deposits globally. Nouveau Monde Graphite aims to advance the project toward commercial production by leveraging Québec’s abundant renewable hydroelectric power and strong mining expertise.

In addition to its core mining operations, the company operates a demonstration plant in Bécancour, Québec, where it produces coated spherical purified graphite (CSPG) anode material.