Nouveau Monde Graphite (NYSE:NMG) Upgraded at National Bank Financial

National Bank Financial upgraded shares of Nouveau Monde Graphite (NYSE:NMG) to a hold rating in a research note issued to investors on Thursday morning,Zacks.com reports.

Nouveau Monde Graphite Stock Performance

Shares of Nouveau Monde Graphite stock opened at $2.15 on Thursday. The firm has a market cap of $327.36 million, a PE ratio of -6.14 and a beta of 0.75. The firm’s 50-day simple moving average is $1.93 and its 200-day simple moving average is $1.76. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.70 and a current ratio of 1.70. Nouveau Monde Graphite has a 1 year low of $1.22 and a 1 year high of $2.57.

Nouveau Monde Graphite (NYSE:NMG) last released its quarterly earnings data on Thursday, August 14th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.04). Equities analysts forecast that Nouveau Monde Graphite will post -0.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nouveau Monde Graphite

Several institutional investors and hedge funds have recently bought and sold shares of the business. XTX Topco Ltd increased its stake in shares of Nouveau Monde Graphite by 100.8% in the second quarter. XTX Topco Ltd now owns 25,522 shares of the company’s stock valued at $42,000 after purchasing an additional 12,811 shares during the period. Millennium Management LLC increased its stake in shares of Nouveau Monde Graphite by 51.9% in the fourth quarter. Millennium Management LLC now owns 47,755 shares of the company’s stock valued at $76,000 after purchasing an additional 16,312 shares during the period. Finally, Arkadios Wealth Advisors acquired a new stake in shares of Nouveau Monde Graphite in the first quarter valued at approximately $45,000. Institutional investors and hedge funds own 41.09% of the company’s stock.

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.