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

Shares of Nouveau Monde Graphite Inc. (NYSE:NMG) have earned an average recommendation of “Moderate Buy” from the eight brokerages that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $4.8667.

A number of research analysts recently weighed in on NMG shares. Zacks Research upgraded Nouveau Monde Graphite from a “strong sell” rating to a “hold” rating in a report on Monday, December 15th. National Bankshares raised Nouveau Monde Graphite to an “outperform” rating in a research note on Monday, November 3rd. Wall Street Zen downgraded shares of Nouveau Monde Graphite to a “strong sell” rating in a research report on Saturday, November 1st. BMO Capital Markets started coverage on shares of Nouveau Monde Graphite in a report on Friday, December 12th. They issued an “outperform” rating on the stock. Finally, HC Wainwright raised their target price on shares of Nouveau Monde Graphite from $2.75 to $7.50 and gave the company a “buy” rating in a research note on Wednesday, October 15th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Susquehanna International Group LLP acquired a new stake in shares of Nouveau Monde Graphite during the 3rd quarter worth approximately $96,000. Millennium Management LLC acquired a new stake in Nouveau Monde Graphite in the third quarter worth $196,000. Financial Sense Advisors Inc. bought a new stake in Nouveau Monde Graphite in the third quarter valued at $256,000. Banque Cantonale Vaudoise bought a new stake in Nouveau Monde Graphite in the third quarter valued at $58,000. Finally, K.J. Harrison & Partners Inc acquired a new position in shares of Nouveau Monde Graphite during the third quarter valued at $269,000. 41.09% of the stock is owned by institutional investors and hedge funds.

Nouveau Monde Graphite Price Performance

Nouveau Monde Graphite stock opened at $2.52 on Tuesday. Nouveau Monde Graphite has a 1 year low of $1.30 and a 1 year high of $6.06. The firm has a 50 day moving average price of $2.79 and a 200 day moving average price of $2.39. The company has a market cap of $404.24 million, a price-to-earnings ratio of -3.81 and a beta of 0.86. 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 (NYSE:NMG) last posted its quarterly earnings results on Wednesday, November 12th. The company reported ($0.06) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.06). Sell-side analysts predict that Nouveau Monde Graphite will post -0.47 earnings per share for the current year.

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.