Wall Street Zen Downgrades Nouveau Monde Graphite (NYSE:NMG) to Sell

Nouveau Monde Graphite (NYSE:NMG) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Monday.

A number of other brokerages have also commented on NMG. National Bank Financial raised Nouveau Monde Graphite to a “strong-buy” rating in a research note on Friday, April 17th. Roth Mkm set a $3.50 price objective on Nouveau Monde Graphite in a research note on Monday, May 18th. Finally, HC Wainwright decreased their price objective 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. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Nouveau Monde Graphite presently has a consensus rating of “Moderate Buy” and an average price target of $4.67.

Nouveau Monde Graphite Stock Down 0.8%

Shares of NMG stock opened at $1.43 on Monday. The company’s fifty day simple moving average is $1.85 and its two-hundred day simple moving average is $2.25. Nouveau Monde Graphite has a 52 week low of $1.37 and a 52 week high of $6.06. The stock has a market cap of $229.67 million, a P/E ratio of -3.17 and a beta of 0.74. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.02.

Nouveau Monde Graphite (NYSE:NMG) last issued its quarterly earnings data 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. Analysts predict that Nouveau Monde Graphite will post -0.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. XTX Topco Ltd increased 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 worth $42,000 after acquiring an additional 12,811 shares during the last quarter. Banque Cantonale Vaudoise bought a new stake in shares of Nouveau Monde Graphite in the 3rd quarter valued at approximately $58,000. Financial Sense Advisors Inc. purchased a new position in shares of Nouveau Monde Graphite in the 3rd quarter worth approximately $256,000. Millennium Management LLC purchased a new position in shares of Nouveau Monde Graphite in the 3rd quarter worth approximately $196,000. Finally, Susquehanna International Group LLP bought a new position in shares of Nouveau Monde Graphite during the 3rd quarter valued at approximately $96,000. Hedge funds and other institutional investors own 41.09% of the company’s stock.

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.