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

Shares of Nouveau Monde Graphite Inc. (NYSE:NMG) have earned an average recommendation of “Moderate Buy” from the seven research firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and two have given a strong buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $4.6667.

Several research analysts have issued reports on NMG shares. National Bank Financial upgraded Nouveau Monde Graphite to a “strong-buy” rating in a research note on Friday, April 17th. Roth Mkm set a $3.50 target price on Nouveau Monde Graphite in a report on Monday, May 18th. Wall Street Zen upgraded Nouveau Monde Graphite from a “sell” rating to a “hold” rating in a report on Saturday, May 23rd. Finally, HC Wainwright decreased their target price 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.

Nouveau Monde Graphite Stock Performance

Nouveau Monde Graphite stock opened at $1.92 on Friday. 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 has a fifty day moving average price of $2.09 and a two-hundred day moving average price of $2.43. Nouveau Monde Graphite has a 52-week low of $1.60 and a 52-week high of $6.06. The firm has a market capitalization of $307.99 million, a P/E ratio of -4.26 and a beta of 0.78.

Nouveau Monde Graphite (NYSE:NMG) last released its quarterly earnings data on Wednesday, May 13th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.06. As a group, analysts anticipate that Nouveau Monde Graphite will post -0.2 EPS for the current fiscal year.

Institutional Trading of Nouveau Monde Graphite

Several large investors have recently made changes to their positions in the business. Renaissance Technologies LLC grew its holdings in shares of Nouveau Monde Graphite by 1,185.2% during the first quarter. Renaissance Technologies LLC now owns 1,433,023 shares of the company’s stock worth $3,210,000 after purchasing an additional 1,321,523 shares during 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 worth $868,000 after purchasing an additional 280,771 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of Nouveau Monde Graphite by 236.1% during the fourth quarter. Bank of Montreal Can now owns 164,312 shares of the company’s stock worth $401,000 after purchasing an additional 115,424 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Nouveau Monde Graphite during the fourth quarter worth $380,000. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Nouveau Monde Graphite by 217.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 128,462 shares of the company’s stock worth $319,000 after purchasing an additional 87,971 shares during the last quarter. Institutional investors own 41.09% of the company’s stock.

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.