Nouveau Monde Graphite Inc. (NYSE:NMG) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Nouveau Monde Graphite Inc. (NYSE:NMG) have been given an average rating of “Moderate Buy” by the seven brokerages that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, three have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $4.6667.

NMG has been the topic of a number of research analyst reports. HC Wainwright dropped their price target on shares of Nouveau Monde Graphite from $5.50 to $4.50 and set a “buy” rating on the stock in a research note on Thursday, May 21st. Wall Street Zen raised Nouveau Monde Graphite from a “sell” rating to a “hold” rating in a research note on Sunday, June 21st. Roth Mkm set a $3.50 price objective on Nouveau Monde Graphite in a research note on Monday, May 18th. Finally, National Bank Financial upgraded Nouveau Monde Graphite to a “strong-buy” rating in a report on Friday, April 17th.

Hedge Funds Weigh In On Nouveau Monde Graphite

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE grew its position in shares of Nouveau Monde Graphite by 5,215.1% during the first quarter. Bank of America Corp DE now owns 89,826 shares of the company’s stock worth $201,000 after buying an additional 88,136 shares in the last quarter. Renaissance Technologies LLC grew its stake in Nouveau Monde Graphite by 1,185.2% during the 1st quarter. Renaissance Technologies LLC now owns 1,433,023 shares of the company’s stock worth $3,210,000 after buying an additional 1,321,523 shares during the last quarter. Brooklands Fund Management Ltd grew its stake in Nouveau Monde Graphite by 88.6% during the 1st quarter. Brooklands Fund Management Ltd now owns 120,000 shares of the company’s stock worth $269,000 after buying an additional 56,384 shares during the last quarter. Banque Cantonale Vaudoise grew its stake in Nouveau Monde Graphite by 119.7% during the 1st quarter. Banque Cantonale Vaudoise now owns 116,000 shares of the company’s stock worth $260,000 after buying an additional 63,200 shares during the last quarter. Finally, Millennium Management LLC grew its stake 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 purchasing an additional 280,771 shares during the last quarter. Hedge funds and other institutional investors own 41.09% of the company’s stock.

Nouveau Monde Graphite Price Performance

NMG opened at $1.43 on Tuesday. Nouveau Monde Graphite has a 1 year low of $1.37 and a 1 year high of $6.06. The firm has a market capitalization of $229.67 million, a PE ratio of -3.17 and a beta of 0.74. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.75 and a quick ratio of 0.75. The business’s 50-day moving average is $1.85 and its two-hundred day moving average is $2.25.

Nouveau Monde Graphite (NYSE:NMG) last issued its quarterly earnings results on Wednesday, May 13th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.06. Research analysts anticipate that Nouveau Monde Graphite will post -0.2 earnings per share for the current fiscal year.

About Nouveau Monde Graphite

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.