Nouveau Monde Graphite (NYSE:NMG) Posts Earnings Results, Beats Estimates By $0.03 EPS

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

Nouveau Monde Graphite Price Performance

NMG traded down $0.01 during trading on Thursday, hitting $0.78. The stock had a trading volume of 345,343 shares, compared to its average volume of 385,986. Nouveau Monde Graphite has a twelve month low of $0.75 and a twelve month high of $3.59. The stock has a 50 day simple moving average of $1.12 and a two-hundred day simple moving average of $1.68.

Analyst Upgrades and Downgrades

NMG has been the subject of a number of analyst reports. Wall Street Zen upgraded Nouveau Monde Graphite from a “sell” rating to a “hold” rating in a research note on Saturday, October 24th. HC Wainwright reiterated a “buy” rating and issued a $4.50 target price on shares of Nouveau Monde Graphite in a research note on Monday, August 24th. Zacks Research lowered Nouveau Monde Graphite from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 23rd. Freedom Broker began coverage on shares of Nouveau Monde Graphite in a report on Thursday, October 1st. They issued a “hold” rating and a $1.48 target price for the company. Finally, Jefferies Financial Group initiated coverage on shares of Nouveau Monde Graphite in a research report on Wednesday, September 2nd. They set a “buy” rating and a C$2.45 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $3.87.

About Nouveau Monde Graphite

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.