Nouveau Monde Graphite Inc. (NYSE:NMG) Receives $6.07 Average PT from Brokerages

Nouveau Monde Graphite Inc. (NYSE:NMG) has earned a consensus rating of “Moderate Buy” from the eight brokerages that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $5.40.

Several research analysts have weighed in on NMG shares. National Bankshares upgraded shares of Nouveau Monde Graphite to an “outperform” rating in a report on Monday, November 3rd. Wall Street Zen lowered shares of Nouveau Monde Graphite to a “strong sell” rating in a report on Saturday, November 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nouveau Monde Graphite in a research report on Thursday, January 22nd. HC Wainwright decreased their price objective on Nouveau Monde Graphite from $7.50 to $5.50 and set a “buy” rating for the company in a report on Friday. Finally, BMO Capital Markets began coverage on Nouveau Monde Graphite in a research note on Friday, December 12th. They issued an “outperform” rating for the company.

Nouveau Monde Graphite Stock Down 12.0%

NMG stock opened at $2.35 on Friday. The stock’s 50 day simple moving average is $2.84 and its 200 day simple moving average is $2.57. The company has a market cap of $377.72 million, a P/E ratio of -3.56 and a beta of 0.87. 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 has a fifty-two week low of $1.30 and a fifty-two week high of $6.06.

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

Hedge Funds Weigh In On Nouveau Monde Graphite

A number of hedge funds have recently bought and sold shares of NMG. XTX Topco Ltd lifted its position in shares of Nouveau Monde Graphite by 100.8% during the second 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 in the last quarter. CWM LLC purchased a new stake in Nouveau Monde Graphite in the 4th quarter valued at about $46,000. Banque Cantonale Vaudoise purchased a new stake in Nouveau Monde Graphite in the 3rd quarter valued at about $58,000. Susquehanna International Group LLP bought a new position in shares of Nouveau Monde Graphite during the 3rd quarter worth approximately $96,000. Finally, Brookwood Investment Group LLC purchased a new position in shares of Nouveau Monde Graphite in the 3rd quarter worth approximately $152,000. 41.09% of the stock is owned by hedge funds and other institutional investors.

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.