Nouveau Monde Graphite Inc. (NYSE:NMG) Receives $5.40 Consensus Target Price from Brokerages

Nouveau Monde Graphite Inc. (NYSE:NMG) has been assigned a consensus rating of “Moderate Buy” from the seven ratings firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $5.40.

NMG has been the subject of a number of research reports. Maxim Group assumed coverage on shares of Nouveau Monde Graphite in a report on Tuesday, January 20th. They set a “buy” rating and a $6.00 target price for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nouveau Monde Graphite in a report on Thursday, January 22nd. Zacks Research upgraded Nouveau Monde Graphite from a “strong sell” rating to a “hold” rating in a research report on Monday, December 15th. HC Wainwright reduced their price objective on Nouveau Monde Graphite from $7.50 to $5.50 and set a “buy” rating for the company in a research note on Friday, January 30th. Finally, BMO Capital Markets initiated coverage on Nouveau Monde Graphite in a report on Friday, December 12th. They issued an “outperform” rating on the stock.

Institutional Trading of Nouveau Monde Graphite

Institutional investors and hedge funds have recently bought and sold shares of the stock. XTX Topco Ltd lifted its stake in Nouveau Monde Graphite by 100.8% during the second quarter. XTX Topco Ltd now owns 25,522 shares of the company’s stock valued at $42,000 after buying an additional 12,811 shares in the last quarter. Brookwood Investment Group LLC acquired a new position in shares of Nouveau Monde Graphite in the third quarter worth about $152,000. K.J. Harrison & Partners Inc purchased a new position in shares of Nouveau Monde Graphite in the third quarter worth approximately $269,000. Banque Cantonale Vaudoise purchased a new position in shares of Nouveau Monde Graphite in the third quarter worth approximately $58,000. Finally, Financial Sense Advisors Inc. acquired a new stake in shares of Nouveau Monde Graphite during the third quarter valued at approximately $256,000. Institutional investors and hedge funds own 41.09% of the company’s stock.

Nouveau Monde Graphite Stock Down 2.0%

NYSE NMG opened at $2.20 on Friday. 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 company’s 50 day simple moving average is $2.46 and its 200 day simple moving average is $2.64. Nouveau Monde Graphite has a 12 month low of $1.30 and a 12 month high of $6.06. The company has a market capitalization of $353.02 million, a P/E ratio of -3.33 and a beta of 0.87.

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.