Nouveau Monde Graphite (NYSE:NMG) Rating Lowered to Strong Sell at Wall Street Zen

Nouveau Monde Graphite (NYSE:NMG) was downgraded by Wall Street Zen to a “strong sell” rating in a note issued to investors on Saturday.

Several other analysts have also weighed in on the stock. National Bank Financial raised shares of Nouveau Monde Graphite to a “hold” rating in a report on Thursday, September 11th. Roth Capital set a $4.70 price objective on shares of Nouveau Monde Graphite and gave the stock a “buy” rating in a report on Thursday, October 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nouveau Monde Graphite in a report on Wednesday, October 8th. Zacks Research lowered shares of Nouveau Monde Graphite from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 14th. Finally, HC Wainwright raised their price objective on shares of Nouveau Monde Graphite from $2.75 to $7.50 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $4.87.

Nouveau Monde Graphite Stock Performance

NYSE:NMG opened at $3.00 on Friday. Nouveau Monde Graphite has a 12-month low of $1.22 and a 12-month high of $6.06. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $457.09 million, a PE ratio of -8.58 and a beta of 0.85. The firm has a 50-day moving average price of $2.63 and a 200 day moving average price of $2.10.

Nouveau Monde Graphite (NYSE:NMG) last posted 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). Research analysts anticipate that Nouveau Monde Graphite will post -0.47 earnings per share for the current fiscal year.

Institutional Trading of Nouveau Monde Graphite

Hedge funds have recently modified their holdings of the stock. XTX Topco Ltd grew its stake in shares of Nouveau Monde Graphite by 100.8% during 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 last quarter. Arkadios Wealth Advisors bought a new position in Nouveau Monde Graphite in the first quarter valued at approximately $45,000. Finally, Brookwood Investment Group LLC bought a new position in Nouveau Monde Graphite in the third quarter valued at approximately $152,000. 41.09% of the stock is owned by institutional investors.

About Nouveau Monde Graphite

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.