12,500,000 Shares in Nouveau Monde Graphite Inc. $NMG Bought by General Motors Holdings LLC

General Motors Holdings LLC bought a new stake in Nouveau Monde Graphite Inc. (NYSE:NMG) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 12,500,000 shares of the company’s stock, valued at approximately $15,000,000. Nouveau Monde Graphite makes up about 26.5% of General Motors Holdings LLC’s investment portfolio, making the stock its 2nd biggest position.

Several other hedge funds have also bought and sold shares of the stock. StoneX Group Inc. bought a new position in shares of Nouveau Monde Graphite in the 3rd quarter worth $57,000. Alps Advisors Inc. purchased a new stake in shares of Nouveau Monde Graphite during the 3rd quarter valued at $338,000. AXQ Capital LP raised its position in shares of Nouveau Monde Graphite by 19.4% during the 2nd quarter. AXQ Capital LP now owns 56,985 shares of the company’s stock valued at $85,000 after buying an additional 9,242 shares in the last quarter. Pacifica Partners Inc. bought a new stake in shares of Nouveau Monde Graphite during the 2nd quarter worth $47,000. Finally, Bank of America Corp DE lifted its holdings in shares of Nouveau Monde Graphite by 5,215.1% during the 1st quarter. Bank of America Corp DE now owns 89,826 shares of the company’s stock worth $201,000 after acquiring an additional 88,136 shares during the last quarter. 41.09% of the stock is currently owned by institutional investors.

Nouveau Monde Graphite Stock Performance

Shares of NMG stock opened at $0.80 on Thursday. The stock has a 50 day moving average price of $1.12 and a two-hundred day moving average price of $1.68. Nouveau Monde Graphite Inc. has a fifty-two week low of $0.75 and a fifty-two week high of $3.59. The company has a market capitalization of $264.31 million, a P/E ratio of -2.51 and a beta of 0.65.

Nouveau Monde Graphite (NYSE:NMG) last released its quarterly earnings data on Wednesday, August 12th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.06. As a group, equities analysts predict that Nouveau Monde Graphite Inc. will post -0.11 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Weiss Ratings raised Nouveau Monde Graphite from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, October 27th. Jefferies Financial Group assumed coverage on Nouveau Monde Graphite in a research report on Wednesday, September 2nd. They set a “buy” rating and a C$2.45 price target on the stock. Wall Street Zen raised Nouveau Monde Graphite from a “sell” rating to a “hold” rating in a research note on Saturday, October 24th. Zacks Research cut Nouveau Monde Graphite from a “strong-buy” rating to a “hold” rating in a report on Friday, October 23rd. Finally, Freedom Broker began coverage on Nouveau Monde Graphite in a report on Thursday, October 1st. They issued a “hold” rating and a $1.48 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $3.87.

Nouveau Monde Graphite Profile

Nouveau Monde Graphite is a Canadian company developing an integrated natural graphite business focused on supplying materials for electric-vehicle batteries and energy storage systems. Its planned activities span graphite mining, processing and the production of battery anode materials. The company’s key projects are in Quebec: the Matawinie graphite project near Saint-Michel-des-Saints and a proposed battery-materials facility in Bécancour. Nouveau Monde Graphite is developing these projects to serve North American customers and support regional battery supply chains.