Nouveau Monde Graphite (CVE:NOU) Stock Gets Price Target Reduction from National Bank Financial

Nouveau Monde Graphite (CVE:NOU) had its price target dropped by research analysts at National Bank Financial from C$4.00 to C$3.50 in a report issued on Monday, BayStreet reports. The firm currently has an “outperform” rating on the stock. National Bank Financial’s price objective suggests a potential upside of 8.02% from the company’s previous close.

Separately, Jefferies Financial Group upgraded Nouveau Monde Graphite to a “strong-buy” rating in a research note on Wednesday, September 2nd. Two equities research analysts have rated the stock with a Strong Buy rating and two have issued a Buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Strong Buy” and a consensus target price of C$4.75.

Nouveau Monde Graphite Price Performance

Nouveau Monde Graphite stock traded up C$0.17 during mid-day trading on Monday, reaching C$3.24. The company had a trading volume of 108,430 shares, compared to its average volume of 83,890. Nouveau Monde Graphite has a fifty-two week low of C$1.70 and a fifty-two week high of C$4.14. 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 company has a market cap of C$493.33 million, a P/E ratio of -5.40 and a beta of 1.82. The business has a fifty day simple moving average of C$3.24 and a 200 day simple 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.