National Bank Financial Issues Pessimistic Forecast for Nouveau Monde Graphite (CVE:NOU) Stock Price

Nouveau Monde Graphite (CVE:NOU) had its target price cut by analysts at National Bank Financial from C$5.25 to C$4.75 in a report released on Tuesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. National Bank Financial’s price objective indicates a potential upside of 46.60% from the company’s current price.

Other equities analysts have also recently issued reports about the company. Maxim Group upgraded Nouveau Monde Graphite to a “strong-buy” rating in a research note on Tuesday, January 20th. BMO Capital Markets set a C$6.00 price objective on shares of Nouveau Monde Graphite and gave the stock an “outperform” rating in a report on Friday, December 12th. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of C$5.38.

Nouveau Monde Graphite Stock Up 5.5%

Shares of NOU traded up C$0.17 during midday trading on Tuesday, hitting C$3.24. The company had a trading volume of 108,430 shares, compared to its average volume of 83,890. The stock has a market cap of C$493.33 million, a price-to-earnings ratio of -5.40 and a beta of 1.82. The company’s 50 day moving average price is C$3.24 and its 200 day moving average price is C$3.24. The company has a quick ratio of 1.29, a current ratio of 3.58 and a debt-to-equity ratio of 105.58. Nouveau Monde Graphite has a 52 week low of C$1.70 and a 52 week high of C$4.14.

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.