Nouveau Monde Graphite (NYSE:NMG) Announces Earnings Results

Nouveau Monde Graphite (NYSE:NMG) released its earnings results on Thursday. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.03, Zacks reports.

Nouveau Monde Graphite Trading Down 1.6%

Shares of NYSE:NMG traded down $0.01 during trading hours on Thursday, hitting $0.78. The company’s stock had a trading volume of 345,343 shares, compared to its average volume of 385,986. The firm’s fifty day moving average price is $1.12 and its 200 day moving average price is $1.68. Nouveau Monde Graphite has a 52 week low of $0.75 and a 52 week high of $3.59.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Weiss Ratings cut shares of Nouveau Monde Graphite from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday. HC Wainwright reissued a “buy” rating and issued a $4.50 price objective on shares of Nouveau Monde Graphite in a research report on Monday, August 24th. Jefferies Financial Group assumed coverage on shares of Nouveau Monde Graphite in a research note on Wednesday, September 2nd. They issued a “buy” rating and a C$2.45 target price on the stock. Wall Street Zen upgraded shares of Nouveau Monde Graphite from a “sell” rating to a “hold” rating in a research note on Saturday, October 24th. Finally, Freedom Broker assumed coverage on shares of Nouveau Monde Graphite in a research report on Thursday, October 1st. They set a “hold” rating and a $1.48 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Nouveau Monde Graphite presently has a consensus rating of “Moderate Buy” and a consensus target price of $3.87.

Nouveau Monde Graphite Company 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.