Renaissance Technologies LLC Buys 1,321,523 Shares of Nouveau Monde Graphite Inc. $NMG

Renaissance Technologies LLC lifted its stake in Nouveau Monde Graphite Inc. (NYSE:NMG) by 1,185.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,433,023 shares of the company’s stock after purchasing an additional 1,321,523 shares during the quarter. Renaissance Technologies LLC’s holdings in Nouveau Monde Graphite were worth $3,210,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Brooklands Fund Management Ltd increased 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 valued at $269,000 after purchasing an additional 56,384 shares in the last quarter. Banque Cantonale Vaudoise lifted its stake in shares of Nouveau Monde Graphite by 119.7% in the first quarter. Banque Cantonale Vaudoise now owns 116,000 shares of the company’s stock worth $260,000 after buying an additional 63,200 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Nouveau Monde Graphite by 405.9% during the fourth quarter. Millennium Management LLC now owns 349,950 shares of the company’s stock valued at $868,000 after buying an additional 280,771 shares during the last quarter. Intrepid Family Office LLC bought a new stake in shares of Nouveau Monde Graphite during the fourth quarter valued at approximately $25,000. Finally, Royal Bank of Canada raised its holdings in Nouveau Monde Graphite by 36.7% in the 4th quarter. Royal Bank of Canada now owns 68,298 shares of the company’s stock worth $170,000 after acquiring an additional 18,329 shares during the last quarter. 41.09% of the stock is owned by hedge funds and other institutional investors.

Nouveau Monde Graphite Stock Performance

NMG stock opened at $1.39 on Friday. The company has a market cap of $222.75 million, a P/E ratio of -3.08 and a beta of 0.83. Nouveau Monde Graphite Inc. has a 1 year low of $1.26 and a 1 year high of $6.06. 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 stock’s fifty day moving average price is $1.48 and its 200-day moving average price is $1.97.

Nouveau Monde Graphite (NYSE:NMG) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.06. On average, equities analysts forecast that Nouveau Monde Graphite Inc. will post -0.2 earnings per share for the current year.

Analyst Ratings Changes

NMG has been the topic of several analyst reports. Roth Capital set a $3.50 price objective on Nouveau Monde Graphite in a research report on Monday, May 18th. HC Wainwright lowered their price target on Nouveau Monde Graphite from $5.50 to $4.50 and set a “buy” rating on the stock in a report on Thursday, May 21st. Wall Street Zen downgraded Nouveau Monde Graphite from a “hold” rating to a “sell” rating in a report on Monday, June 29th. Zacks Research lowered Nouveau Monde Graphite from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Nouveau Monde Graphite in a research note on Monday, July 6th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $4.67.

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.