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

Shares of Nouveau Monde Graphite Inc. (NYSE:NMG) have received a consensus recommendation of “Moderate Buy” from the seven brokerages that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, three have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 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 the company. Wall Street Zen upgraded Nouveau Monde Graphite from a “sell” rating to a “hold” rating in a report on Sunday. HC Wainwright cut their price target 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. Roth Mkm set a $3.50 price target on Nouveau Monde Graphite in a report on Monday, May 18th. Finally, National Bank Financial upgraded Nouveau Monde Graphite to a “strong-buy” rating in a report on Friday, April 17th.

Nouveau Monde Graphite Trading Down 5.7%

NYSE:NMG opened at $1.49 on Tuesday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $239.64 million, a price-to-earnings ratio of -3.31 and a beta of 0.74. The firm has a fifty day simple moving average of $1.88 and a two-hundred day simple moving average of $2.29. Nouveau Monde Graphite has a 12 month low of $1.37 and a 12 month high of $6.06.

Nouveau Monde Graphite (NYSE:NMG) last posted its quarterly earnings results on Wednesday, May 13th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.06. Analysts expect that Nouveau Monde Graphite will post -0.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NMG. Intrepid Family Office LLC acquired a new position in Nouveau Monde Graphite during the fourth quarter worth $25,000. XTX Topco Ltd raised its holdings 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 buying an additional 12,811 shares during the last quarter. CWM LLC acquired a new position in Nouveau Monde Graphite during the fourth quarter worth $46,000. Banque Cantonale Vaudoise acquired a new position in Nouveau Monde Graphite during the third quarter worth $58,000. Finally, Susquehanna International Group LLP acquired a new position in Nouveau Monde Graphite during the third quarter worth $96,000. Institutional investors and hedge funds 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.