Nouveau Monde Graphite Inc. (NYSE:NMG) Receives Average Rating of “Hold” from Analysts

Shares of Nouveau Monde Graphite Inc. (NYSE:NMG) have been given a consensus recommendation of “Hold” by the seven analysts that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $4.8667.

Several analysts have recently weighed in on NMG shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Nouveau Monde Graphite in a research note on Wednesday, October 8th. Roth Capital set a $4.70 price objective on Nouveau Monde Graphite and gave the stock a “buy” rating in a research report on Thursday, October 16th. HC Wainwright lifted their target price on Nouveau Monde Graphite from $2.75 to $7.50 and gave the company a “buy” rating in a research report on Wednesday, October 15th. National Bankshares upgraded Nouveau Monde Graphite to an “outperform” rating in a report on Monday, November 3rd. Finally, Wall Street Zen lowered shares of Nouveau Monde Graphite to a “strong sell” rating in a report on Saturday, November 1st.

Hedge Funds Weigh In On Nouveau Monde Graphite

A number of hedge funds have recently made changes to their positions in NMG. XTX Topco Ltd increased 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 purchasing an additional 12,811 shares during the last quarter. Arkadios Wealth Advisors acquired a new stake in shares of Nouveau Monde Graphite in the first quarter valued at $45,000. Banque Cantonale Vaudoise purchased a new stake in shares of Nouveau Monde Graphite in the 3rd quarter valued at $58,000. Susquehanna International Group LLP acquired a new position in Nouveau Monde Graphite during the 3rd quarter worth about $96,000. Finally, Brookwood Investment Group LLC purchased a new position in Nouveau Monde Graphite during the 3rd quarter valued at about $152,000. Hedge funds and other institutional investors own 41.09% of the company’s stock.

Nouveau Monde Graphite Stock Up 4.2%

NYSE NMG opened at $3.22 on Friday. The business’s fifty day simple moving average is $2.96 and its 200-day simple moving average is $2.26. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.04. The firm has a market cap of $490.73 million, a PE ratio of -4.88 and a beta of 0.86. Nouveau Monde Graphite has a 52 week low of $1.25 and a 52 week high of $6.06.

Nouveau Monde Graphite (NYSE:NMG) last announced its quarterly earnings data on Wednesday, November 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.06). As a group, equities analysts anticipate that Nouveau Monde Graphite will post -0.47 earnings per share for the current year.

Nouveau Monde Graphite Company Profile

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.