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

Nouveau Monde Graphite Inc. (NYSE:NMG) has earned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $5.40.

NMG has been the topic of several research reports. Maxim Group initiated coverage on Nouveau Monde Graphite in a research report on Tuesday, January 20th. They set a “buy” rating and a $6.00 price target on the stock. Zacks Research raised Nouveau Monde Graphite from a “strong sell” rating to a “hold” rating in a research report on Monday, December 15th. HC Wainwright cut their target price on shares of Nouveau Monde Graphite from $7.50 to $5.50 and set a “buy” rating for the company in a research report on Friday, January 30th. BMO Capital Markets started coverage on Nouveau Monde Graphite in a research note on Friday, December 12th. They set an “outperform” rating for the company. Finally, National Bank Financial upgraded Nouveau Monde Graphite to an “outperform” rating in a research note on Monday, November 3rd.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NMG. Royal Bank of Canada increased its stake 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 buying an additional 18,329 shares in the last quarter. Brooklands Fund Management Ltd bought a new position in shares of Nouveau Monde Graphite in the fourth quarter worth about $149,000. Marshall Wace LLP purchased a new stake in shares of Nouveau Monde Graphite during the fourth quarter worth about $380,000. Renaissance Technologies LLC raised its stake in Nouveau Monde Graphite by 886.7% during the 4th quarter. Renaissance Technologies LLC now owns 111,500 shares of the company’s stock valued at $277,000 after purchasing an additional 100,200 shares during the period. Finally, Bank of Montreal Can raised its stake in Nouveau Monde Graphite by 236.1% during the 4th quarter. Bank of Montreal Can now owns 164,312 shares of the company’s stock valued at $401,000 after purchasing an additional 115,424 shares during the period. Hedge funds and other institutional investors own 41.09% of the company’s stock.

Nouveau Monde Graphite Stock Performance

Shares of NMG opened at $2.20 on Wednesday. The company has a 50-day simple moving average of $2.68 and a two-hundred day simple moving average of $2.60. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.62 and a quick ratio of 0.62. The firm has a market capitalization of $354.93 million, a PE ratio of -3.33 and a beta of 0.87. Nouveau Monde Graphite has a one year low of $1.30 and a one year high of $6.06.

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.