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

Nouveau Monde Graphite Inc. (CVE:NOU)’s stock price was up 5.5% on Monday . The company traded as high as C$3.40 and last traded at C$3.24. Approximately 108,430 shares were traded during trading, an increase of 29% from the average daily volume of 83,890 shares. The stock had previously closed at C$3.07.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. National Bankshares raised shares of Nouveau Monde Graphite from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from C$3.50 to C$5.00 in a research note on Tuesday, November 4th. National Bank Financial raised shares of Nouveau Monde Graphite to a “hold” rating in a research report on Thursday, September 11th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of C$5.00.

Nouveau Monde Graphite Stock Up 5.5%

The company has a current ratio of 1.74, a quick ratio of 1.29 and a debt-to-equity ratio of 16.18. The firm’s 50 day moving average price is C$3.24 and its two-hundred day moving average price is C$3.24. The company has a market capitalization of C$493.33 million, a price-to-earnings 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.