Nouveau Monde Graphite (NYSE:NMG) Stock Rating Upgraded by National Bank Financial

Nouveau Monde Graphite (NYSE:NMG) was upgraded by stock analysts at National Bank Financial to a “hold” rating in a report released on Thursday,Zacks.com reports.

Nouveau Monde Graphite Stock Performance

Shares of NMG stock opened at $2.15 on Thursday. Nouveau Monde Graphite has a 52-week low of $1.22 and a 52-week high of $2.57. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.01. The stock has a market cap of $327.36 million, a PE ratio of -6.14 and a beta of 0.75. The business has a 50-day simple moving average of $1.93 and a 200-day simple moving average of $1.76.

Nouveau Monde Graphite (NYSE:NMG) last posted its earnings results on Thursday, August 14th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.04). On average, equities analysts expect that Nouveau Monde Graphite will post -0.47 EPS for the current year.

Institutional Trading of Nouveau Monde Graphite

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. XTX Topco Ltd increased its holdings in Nouveau Monde Graphite by 100.8% in the second quarter. XTX Topco Ltd now owns 25,522 shares of the company’s stock valued at $42,000 after buying an additional 12,811 shares in the last quarter. Arkadios Wealth Advisors purchased a new position in shares of Nouveau Monde Graphite in the 1st quarter valued at about $45,000. Finally, Millennium Management LLC raised its holdings in Nouveau Monde Graphite by 51.9% in the 4th quarter. Millennium Management LLC now owns 47,755 shares of the company’s stock worth $76,000 after purchasing an additional 16,312 shares during the period. 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.