Nouveau Monde Graphite Inc. (NYSE:NMG) Given Average Recommendation of “Moderate Buy” by Analysts

Nouveau Monde Graphite Inc. (NYSE:NMG) has received a consensus rating of “Moderate Buy” from the eight analysts that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $4.8667.

Several research analysts have recently issued reports on NMG shares. HC Wainwright upped their target price on shares of Nouveau Monde Graphite from $2.75 to $7.50 and gave the company a “buy” rating in a report on Wednesday, October 15th. Wall Street Zen downgraded shares of Nouveau Monde Graphite to a “strong sell” rating in a research report on Saturday, November 1st. Roth Capital set a $4.70 target price on shares of Nouveau Monde Graphite and gave the company a “buy” rating in a report on Thursday, October 16th. Zacks Research raised Nouveau Monde Graphite from a “strong sell” rating to a “hold” rating in a research note on Monday, December 15th. Finally, BMO Capital Markets began coverage on Nouveau Monde Graphite in a report on Friday, December 12th. They issued an “outperform” rating on the stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. XTX Topco Ltd boosted its position 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 acquiring an additional 12,811 shares during the last quarter. Brookwood Investment Group LLC acquired a new position in Nouveau Monde Graphite in the 3rd quarter valued at $152,000. K.J. Harrison & Partners Inc acquired a new stake in shares of Nouveau Monde Graphite during the third quarter worth $269,000. Banque Cantonale Vaudoise purchased a new stake in shares of Nouveau Monde Graphite in the third quarter valued at $58,000. Finally, Financial Sense Advisors Inc. purchased a new stake in shares of Nouveau Monde Graphite in the third quarter valued at $256,000. 41.09% of the stock is owned by hedge funds and other institutional investors.

Nouveau Monde Graphite Stock Down 5.5%

NMG stock opened at $2.52 on Tuesday. The firm has a market cap of $404.24 million, a PE ratio of -3.81 and a beta of 0.86. Nouveau Monde Graphite has a one year low of $1.30 and a one year high of $6.06. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.62 and a current ratio of 0.62. The firm’s 50 day moving average price is $2.79 and its 200-day moving average price is $2.39.

Nouveau Monde Graphite (NYSE:NMG) last issued its quarterly earnings data on Wednesday, November 12th. The company reported ($0.06) EPS for the quarter, hitting the consensus estimate of ($0.06). On average, equities research analysts anticipate that Nouveau Monde Graphite will post -0.47 EPS for the current year.

Nouveau Monde Graphite Company Profile

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.