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

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

A number of research firms recently commented on NMG. Zacks Research upgraded Nouveau Monde Graphite from a “hold” rating to a “strong-buy” rating in a report on Friday, June 26th. Weiss Ratings reissued a “sell (e+)” rating on shares of Nouveau Monde Graphite in a research note on Monday, July 6th. HC Wainwright reduced their target price 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. National Bank Financial upgraded Nouveau Monde Graphite to a “strong-buy” rating in a report on Friday, April 17th. Finally, Wall Street Zen cut Nouveau Monde Graphite from a “hold” rating to a “sell” rating in a report on Monday, June 29th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC boosted its position in shares of Nouveau Monde Graphite by 1,185.2% during the 1st 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 period. Royal Bank of Canada increased its holdings in Nouveau Monde Graphite by 36.7% in the 4th quarter. Royal Bank of Canada now owns 68,298 shares of the company’s stock valued at $170,000 after purchasing an additional 18,329 shares during the last quarter. Alps Advisors Inc. purchased a new stake in Nouveau Monde Graphite in the fourth quarter valued at approximately $202,000. Susquehanna International Group LLP acquired a new position in Nouveau Monde Graphite during the third quarter worth $96,000. Finally, Millennium Management LLC acquired a new position in Nouveau Monde Graphite during the third quarter worth $196,000. Hedge funds and other institutional investors own 41.09% of the company’s stock.

Nouveau Monde Graphite Trading Up 3.4%

Shares of NMG opened at $1.36 on Friday. Nouveau Monde Graphite has a 12-month low of $1.28 and a 12-month high of $6.06. The firm has a market capitalization of $219.53 million, a P/E ratio of -3.03 and a beta of 0.81. The firm has a 50-day moving average price of $1.63 and a 200 day moving average price of $2.09. 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 (NYSE:NMG) last issued its earnings results on Tuesday, May 12th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.06. Sell-side analysts forecast that Nouveau Monde Graphite will post -0.2 EPS for the current year.

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.