Nouveau Monde Graphite (CVE:NOU) Stock Price Up 5.5% – Time to Buy?

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

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group raised Nouveau Monde Graphite to a “strong-buy” rating in a report on Wednesday, September 2nd. Two equities research analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. Based on data from MarketBeat.com, Nouveau Monde Graphite presently has a consensus rating of “Strong Buy” and an average price target of C$5.25.

Nouveau Monde Graphite Price Performance

The business’s fifty day moving average price is C$3.24 and its 200 day moving average price is C$3.24. The company has a debt-to-equity ratio of 105.58, a current ratio of 3.58 and a quick ratio of 1.29. The stock has a market cap of C$493.33 million, a P/E ratio of -5.40 and a beta of 1.82.

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.