Nouveau Monde Graphite Sees Unusually High Options Volume (NYSE:NMG)

Nouveau Monde Graphite Inc. (NYSE:NMG) was the recipient of some unusual options trading activity on Wednesday. Investors acquired 2,921 call options on the company. This is an increase of 404% compared to the typical daily volume of 579 call options.

Nouveau Monde Graphite Trading Up 12.0%

Shares of NYSE:NMG opened at $3.13 on Thursday. The company has a market capitalization of $477.31 million, a PE ratio of -8.93 and a beta of 0.86. Nouveau Monde Graphite has a 12-month low of $1.22 and a 12-month high of $6.06. The business has a 50 day moving average of $2.74 and a two-hundred day moving average of $2.15. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.01.

Nouveau Monde Graphite (NYSE:NMG) last posted its earnings results on Wednesday, November 12th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.01. As a group, analysts forecast that Nouveau Monde Graphite will post -0.47 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on NMG shares. Zacks Research cut Nouveau Monde Graphite from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 14th. Wall Street Zen downgraded Nouveau Monde Graphite to a “strong sell” rating in a report on Saturday, November 1st. National Bankshares upgraded Nouveau Monde Graphite to an “outperform” rating in a research report on Monday, November 3rd. HC Wainwright raised their price target on shares of Nouveau Monde Graphite from $2.75 to $7.50 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nouveau Monde Graphite in a report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $4.87.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. XTX Topco Ltd boosted its stake in shares of Nouveau Monde Graphite by 100.8% during the 2nd quarter. XTX Topco Ltd now owns 25,522 shares of the company’s stock worth $42,000 after acquiring an additional 12,811 shares in the last quarter. Arkadios Wealth Advisors acquired a new position in Nouveau Monde Graphite in the 1st quarter worth about $45,000. Brookwood Investment Group LLC purchased a new position in Nouveau Monde Graphite during the third quarter worth approximately $152,000. Finally, K.J. Harrison & Partners Inc acquired a new stake in Nouveau Monde Graphite in the third quarter valued at approximately $269,000. 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.