Nouveau Monde Graphite (NYSE:NMG) Upgraded to Hold at Zacks Research

Nouveau Monde Graphite (NYSE:NMG) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other research analysts have also issued reports on the stock. National Bankshares raised shares of Nouveau Monde Graphite to an “outperform” rating in a research note on Monday, November 3rd. National Bank Financial upgraded shares of Nouveau Monde Graphite to a “hold” rating in a report on Thursday, September 11th. HC Wainwright lifted their target price on shares of Nouveau Monde Graphite from $2.75 to $7.50 and gave the stock a “buy” rating in a report on Wednesday, October 15th. BMO Capital Markets started coverage on Nouveau Monde Graphite in a research note on Friday. They issued an “outperform” rating on the stock. Finally, Roth Capital set a $4.70 price target on Nouveau Monde Graphite and gave the stock a “buy” rating in a research report on Thursday, October 16th. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $4.87.

Nouveau Monde Graphite Stock Up 4.6%

NYSE NMG opened at $3.04 on Monday. The stock has a market capitalization of $463.91 million, a P/E ratio of -4.61 and a beta of 0.86. Nouveau Monde Graphite has a 52 week low of $1.30 and a 52 week high of $6.06. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.62 and a current ratio of 0.62. The stock has a fifty day moving average of $3.00 and a 200-day moving average of $2.33.

Nouveau Monde Graphite (NYSE:NMG) last issued its quarterly earnings results on Wednesday, November 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.06). On average, equities research analysts forecast that Nouveau Monde Graphite will post -0.47 EPS for the current year.

Hedge Funds Weigh In On Nouveau Monde Graphite

A number of hedge funds and other institutional investors have recently made changes to their positions in NMG. XTX Topco Ltd increased its position in shares of 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 buying an additional 12,811 shares in the last quarter. Banque Cantonale Vaudoise bought a new position in Nouveau Monde Graphite during the third quarter worth about $58,000. Susquehanna International Group LLP acquired a new position in Nouveau Monde Graphite in the third quarter valued at about $96,000. Brookwood Investment Group LLC bought a new stake in shares of Nouveau Monde Graphite in the third quarter worth about $152,000. Finally, Millennium Management LLC acquired a new stake in shares of Nouveau Monde Graphite during the third quarter worth about $196,000. 41.09% of the stock is owned by institutional investors.

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.