Nouveau Monde Graphite (CVE:NOU) Trading 5.5% Higher – What’s Next?

Nouveau Monde Graphite Inc. (CVE:NOU) shot up 5.5% during mid-day trading on Wednesday . The company traded as high as C$3.40 and last traded at C$3.24. Approximately 108,430 shares were traded during trading, an increase of 29% from the average daily volume of 83,890 shares. The stock had previously closed at C$3.07.

Analyst Ratings Changes

Separately, National Bank Financial cut their price objective on shares of Nouveau Monde Graphite from C$4.75 to C$4.50 and set an “outperform” rating on the stock in a research report on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to MarketBeat, Nouveau Monde Graphite has a consensus rating of “Buy” and a consensus price target of C$5.25.

Nouveau Monde Graphite Trading Up 5.5%

The firm has a market cap of C$493.33 million, a P/E ratio of -5.40 and a beta of 1.82. The company has a current ratio of 3.58, a quick ratio of 1.29 and a debt-to-equity ratio of 105.58. The business has a 50 day moving average of C$3.24 and a two-hundred day moving average of C$3.24.

About Nouveau Monde Graphite

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. It also involved in the real estate and trading activities. The company was formerly known as Nouveau Monde Mining Enterprises Inc and changed its name to Nouveau Monde Graphite Inc in February 2017.