Nouveau Monde Graphite Inc. (NYSE:NMG) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Nouveau Monde Graphite Inc. (NYSE:NMG) have received an average rating of “Moderate Buy” from the eight research firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $6.0667.

A number of research analysts have commented on NMG shares. HC Wainwright upped their price target on Nouveau Monde Graphite from $2.75 to $7.50 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Roth Mkm set a $4.70 target price on Nouveau Monde Graphite and gave the company a “buy” rating in a research note 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. BMO Capital Markets started coverage on shares of Nouveau Monde Graphite in a research report on Friday, December 12th. They set an “outperform” rating on the stock. Finally, Wall Street Zen lowered shares of Nouveau Monde Graphite to a “strong sell” rating in a report on Saturday, November 1st.

Nouveau Monde Graphite Trading Up 0.2%

NYSE:NMG opened at $3.06 on Friday. The firm has a market capitalization of $491.03 million, a P/E ratio of -4.63 and a beta of 0.87. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.04. The company has a fifty day moving average of $2.82 and a 200 day moving average of $2.54. Nouveau Monde Graphite has a 52 week low of $1.30 and a 52 week high of $6.06.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. K.J. Harrison & Partners Inc bought a new position in shares of Nouveau Monde Graphite in the 3rd quarter worth approximately $269,000. Financial Sense Advisors Inc. purchased a new stake in Nouveau Monde Graphite in the third quarter worth $256,000. Millennium Management LLC bought a new position in Nouveau Monde Graphite in the third quarter worth $196,000. Brookwood Investment Group LLC purchased a new position in Nouveau Monde Graphite during the third quarter valued at $152,000. Finally, Susquehanna International Group LLP bought a new stake in shares of Nouveau Monde Graphite during the 3rd quarter valued at $96,000. Hedge funds and other institutional investors own 41.09% of the company’s stock.

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.