Nouveau Monde Graphite (NYSE:NMG) Now Covered by Analysts at Maxim Group

Maxim Group initiated coverage on shares of Nouveau Monde Graphite (NYSE:NMG) in a research note published on Tuesday, MarketBeat.com reports. The firm issued a buy rating and a $6.00 price target on the stock.

Several other equities research analysts have also recently commented on NMG. National Bankshares upgraded Nouveau Monde Graphite to an “outperform” rating in a research note on Monday, November 3rd. HC Wainwright boosted their price objective on shares of Nouveau Monde Graphite from $2.75 to $7.50 and gave the company a “buy” rating in a research note on Wednesday, October 15th. Roth Capital set a $4.70 target price on shares of Nouveau Monde Graphite and gave the stock a “buy” rating in a research note on Thursday, October 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nouveau Monde Graphite in a report on Wednesday, October 8th. Finally, Zacks Research upgraded shares of Nouveau Monde Graphite from a “strong sell” rating to a “hold” rating in a research note on Monday, December 15th. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $5.15.

Nouveau Monde Graphite Price Performance

Shares of NMG opened at $3.00 on Tuesday. Nouveau Monde Graphite has a fifty-two week low of $1.30 and a fifty-two week high of $6.06. The company has a market capitalization of $481.39 million, a price-to-earnings ratio of -4.54 and a beta of 0.87. The firm has a 50-day simple moving average of $2.82 and a 200-day simple moving average of $2.52. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.62 and a current ratio of 0.62.

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

Institutional Trading of Nouveau Monde Graphite

Institutional investors have recently added to or reduced their stakes in the stock. XTX Topco Ltd grew 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 buying an additional 12,811 shares during the period. Banque Cantonale Vaudoise purchased a new stake in shares of Nouveau Monde Graphite during the 3rd quarter worth approximately $58,000. Susquehanna International Group LLP purchased a new stake in shares of Nouveau Monde Graphite during the 3rd quarter worth approximately $96,000. Brookwood Investment Group LLC acquired a new stake in shares of Nouveau Monde Graphite in the 3rd quarter worth approximately $152,000. Finally, Millennium Management LLC acquired a new stake in shares of Nouveau Monde Graphite in the 3rd quarter worth approximately $196,000. Hedge funds and other institutional investors own 41.09% of the company’s stock.

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.