Nouveau Monde Graphite Inc. (NYSE:NMG) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Nouveau Monde Graphite Inc. (NYSE:NMG) have received a consensus rating of “Buy” from the seven ratings firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have given a buy rating and three have assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $4.6667.

NMG has been the subject of a number of recent analyst reports. HC Wainwright cut their price objective on Nouveau Monde Graphite from $5.50 to $4.50 and set a “buy” rating for the company in a research report on Thursday, May 21st. Roth Capital set a $3.50 price target on Nouveau Monde Graphite in a research note on Monday, May 18th. Wall Street Zen downgraded Nouveau Monde Graphite from a “hold” rating to a “sell” rating in a report on Monday, June 29th. National Bank Financial raised shares of Nouveau Monde Graphite to a “strong-buy” rating in a research report on Friday, April 17th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Nouveau Monde Graphite in a report on Monday, July 6th.

Institutional Trading of Nouveau Monde Graphite

Several hedge funds and other institutional investors have recently modified their holdings of NMG. Intrepid Family Office LLC acquired a new position in Nouveau Monde Graphite in the 4th quarter valued at about $25,000. XTX Topco Ltd raised its holdings in Nouveau Monde Graphite by 100.8% in the 2nd quarter. XTX Topco Ltd now owns 25,522 shares of the company’s stock valued at $42,000 after acquiring an additional 12,811 shares during the period. CWM LLC acquired a new stake in Nouveau Monde Graphite during the fourth quarter worth approximately $46,000. Banque Cantonale Vaudoise acquired a new stake in Nouveau Monde Graphite during the third quarter worth approximately $58,000. Finally, Susquehanna International Group LLP bought a new stake in shares of Nouveau Monde Graphite during the third quarter worth approximately $96,000. Institutional investors own 41.09% of the company’s stock.

Nouveau Monde Graphite Trading Down 0.4%

Shares of NYSE:NMG opened at $1.42 on Friday. Nouveau Monde Graphite has a 52-week low of $1.37 and a 52-week high of $6.06. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.75 and a current ratio of 0.75. The company has a market capitalization of $227.57 million, a P/E ratio of -3.14 and a beta of 0.81. The company has a 50-day simple moving average of $1.67 and a 200 day simple moving average of $2.12.

Nouveau Monde Graphite (NYSE:NMG) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.06. Sell-side analysts forecast that Nouveau Monde Graphite will post -0.2 earnings per share for the current year.

Nouveau Monde Graphite Company Profile

Nouveau Monde Graphite is a Canadian mineral development company focused on the exploration, development and production of high-purity natural graphite for the electric vehicle and energy storage markets. The company’s flagship Matawinie graphite project, located north of Montreal in the province of Québec, represents one of the largest known high-grade natural graphite deposits globally. Nouveau Monde Graphite aims to advance the project toward commercial production by leveraging Québec’s abundant renewable hydroelectric power and strong mining expertise.

In addition to its core mining operations, the company operates a demonstration plant in Bécancour, Québec, where it produces coated spherical purified graphite (CSPG) anode material.