Nouveau Monde Graphite (NYSE:NMG) Rating Increased to Hold at Wall Street Zen

Nouveau Monde Graphite (NYSE:NMG) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Sunday.

Other equities analysts also recently issued reports about the stock. Roth Mkm set a $3.50 price target on shares of Nouveau Monde Graphite in a research note on Monday, May 18th. National Bank Financial raised Nouveau Monde Graphite to a “strong-buy” rating in a research report on Friday, April 17th. Finally, HC Wainwright cut their price objective on Nouveau Monde Graphite from $5.50 to $4.50 and set a “buy” rating on the stock in a research report on Thursday, May 21st. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Nouveau Monde Graphite has an average rating of “Moderate Buy” and a consensus price target of $4.67.

Nouveau Monde Graphite Stock Down 0.9%

Shares of NYSE NMG opened at $1.56 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.02. Nouveau Monde Graphite has a 12 month low of $1.37 and a 12 month high of $6.06. The firm has a market capitalization of $251.70 million, a PE ratio of -3.48 and a beta of 0.74. The firm has a fifty day simple moving average of $1.90 and a two-hundred day simple moving average of $2.31.

Nouveau Monde Graphite (NYSE:NMG) last announced its earnings results on Wednesday, May 13th. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.06. Equities analysts expect that Nouveau Monde Graphite will post -0.2 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NMG. Intrepid Family Office LLC bought a new stake in Nouveau Monde Graphite in the fourth quarter worth $25,000. CWM LLC bought a new position in shares of Nouveau Monde Graphite during the fourth quarter valued at $46,000. Banque Cantonale Vaudoise bought a new position in shares of Nouveau Monde Graphite during the third quarter valued at $58,000. XTX Topco Ltd raised its position in shares of Nouveau Monde Graphite by 100.8% in the 2nd quarter. XTX Topco Ltd now owns 25,522 shares of the company’s stock worth $42,000 after purchasing an additional 12,811 shares during the last quarter. Finally, Susquehanna International Group LLP purchased a new position in shares of Nouveau Monde Graphite in the 3rd quarter worth about $96,000. 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.