Nouveau Monde Graphite (CVE:NOU) Trading 5.5% Higher – Here’s What Happened

Nouveau Monde Graphite Inc. (CVE:NOU)’s share price was up 5.5% during trading on Tuesday . The stock traded as high as C$3.40 and last traded at C$3.24. Approximately 108,430 shares were traded during mid-day trading, an increase of 29% from the average daily volume of 83,890 shares. The stock had previously closed at C$3.07.

Wall Street Analyst Weigh In

Separately, National Bank Financial reduced their price objective on Nouveau Monde Graphite from C$4.75 to C$4.50 and set an “outperform” rating for the company in a research note on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of C$5.25.

Nouveau Monde Graphite Price Performance

The stock has a 50 day moving average of C$3.24 and a two-hundred day moving average of C$3.24. The company has a debt-to-equity ratio of 105.58, a quick ratio of 1.29 and a current ratio of 3.58. The stock has a market cap of C$493.33 million, a PE ratio of -5.40 and a beta of 1.82.

Nouveau Monde Graphite Company Profile

Nouveau Monde Graphite Inc engages in the acquisition, exploration, development, and evaluation of mineral properties in Quebec, Canada. It primarily explores for graphite. The company's flagship property is the 100% owned Matawinie graphite property including 176 mining claims covering an area of 9,264 hectares located in Quebec. It also involved in the real estate and trading activities. The company was formerly known as Nouveau Monde Mining Enterprises Inc and changed its name to Nouveau Monde Graphite Inc in February 2017.