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

Nouveau Monde Graphite Inc. (NYSE:NMG) has been assigned a consensus rating of “Buy” from the seven research firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have given a buy recommendation and three have issued a strong buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $4.6667.

A number of research firms have commented on NMG. Wall Street Zen downgraded shares of Nouveau Monde Graphite from a “hold” rating to a “sell” rating in a report on Monday, June 29th. Roth Capital set a $3.50 target price on shares of Nouveau Monde Graphite in a research note on Monday, May 18th. Weiss Ratings restated a “sell (e+)” rating on shares of Nouveau Monde Graphite in a report on Monday, July 6th. National Bank Financial upgraded Nouveau Monde Graphite to a “strong-buy” rating in a research report on Friday, April 17th. Finally, Zacks Research raised Nouveau Monde Graphite from a “hold” rating to a “strong-buy” rating in a report on Friday, June 26th.

Institutional Trading of Nouveau Monde Graphite

Large investors have recently added to or reduced their stakes in the stock. Intrepid Family Office LLC acquired a new stake in shares of Nouveau Monde Graphite in the 4th quarter worth $25,000. XTX Topco Ltd boosted its position 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 valued at $42,000 after acquiring an additional 12,811 shares during the last quarter. CWM LLC acquired a new position in shares of Nouveau Monde Graphite during the 4th quarter valued at about $46,000. Banque Cantonale Vaudoise purchased a new stake in shares of Nouveau Monde Graphite in the third quarter valued at about $58,000. Finally, Susquehanna International Group LLP purchased a new stake in shares of Nouveau Monde Graphite in the third quarter valued at about $96,000. 41.09% of the stock is currently owned by hedge funds and other institutional investors.

Nouveau Monde Graphite Price Performance

Nouveau Monde Graphite stock opened at $1.26 on Friday. The company has a fifty day simple moving average of $1.60 and a 200-day simple moving average of $2.08. The firm has a market capitalization of $203.45 million, a price-to-earnings ratio of -2.81 and a beta of 0.81. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.02. Nouveau Monde Graphite has a 52-week low of $1.26 and a 52-week high of $6.06.

Nouveau Monde Graphite (NYSE:NMG) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.06. On average, equities analysts anticipate that Nouveau Monde Graphite will post -0.2 EPS 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.