Analysts Set Nouveau Monde Graphite Inc. (NYSE:NMG) Target Price at $5.40

Nouveau Monde Graphite Inc. (NYSE:NMG) has earned an average recommendation of “Moderate Buy” from the seven research firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $5.40.

A number of equities analysts have recently commented on the stock. Zacks Research raised shares of Nouveau Monde Graphite from a “strong sell” rating to a “hold” rating in a report on Monday, December 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nouveau Monde Graphite in a report on Thursday, January 22nd. HC Wainwright reduced their price objective on shares of Nouveau Monde Graphite from $7.50 to $5.50 and set a “buy” rating for the company in a report on Friday, January 30th. Finally, Maxim Group assumed coverage on shares of Nouveau Monde Graphite in a report on Tuesday, January 20th. They set a “buy” rating and a $6.00 price objective for the company.

Hedge Funds Weigh In On Nouveau Monde Graphite

Several institutional investors have recently added to or reduced their stakes in the company. Intrepid Family Office LLC bought a new position in Nouveau Monde Graphite during the 4th quarter valued at about $25,000. XTX Topco Ltd lifted its holdings in Nouveau Monde Graphite by 100.8% during the 2nd 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. Royal Bank of Canada lifted its holdings in Nouveau Monde Graphite by 36.7% during the 4th quarter. Royal Bank of Canada now owns 68,298 shares of the company’s stock valued at $170,000 after purchasing an additional 18,329 shares during the last quarter. CWM LLC bought a new position in Nouveau Monde Graphite during the 4th quarter valued at about $46,000. Finally, Banque Cantonale Vaudoise bought a new position in Nouveau Monde Graphite during the 3rd quarter valued at about $58,000. 41.09% of the stock is owned by institutional investors.

Nouveau Monde Graphite Price Performance

NYSE:NMG opened at $1.83 on Thursday. The company has a 50-day moving average of $2.22 and a 200-day moving average of $2.66. The company has a market capitalization of $293.51 million, a price-to-earnings ratio of -3.72 and a beta of 0.84. Nouveau Monde Graphite has a 52 week low of $1.57 and a 52 week high of $6.06. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.87 and a current ratio of 0.87.

Nouveau Monde Graphite (NYSE:NMG) last released its quarterly earnings data on Wednesday, March 25th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.10. As a group, equities research analysts anticipate that Nouveau Monde Graphite will post -0.47 earnings per share for the current fiscal year.

About Nouveau Monde Graphite

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.