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

Shares of Nouveau Monde Graphite Inc. (NYSE:NMG) have been given an average rating of “Moderate Buy” by the eight research firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $4.8667.

NMG has been the topic of several recent research reports. National Bankshares raised shares of Nouveau Monde Graphite to an “outperform” rating in a research note on Monday, November 3rd. Wall Street Zen lowered shares of Nouveau Monde Graphite to a “strong sell” rating in a report on Saturday, November 1st. Roth Capital set a $4.70 price objective on shares of Nouveau Monde Graphite and gave the company a “buy” rating in a research note on Thursday, October 16th. Zacks Research raised shares of Nouveau Monde Graphite from a “strong sell” rating to a “hold” rating in a report on Monday, December 15th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Nouveau Monde Graphite in a research report on Wednesday, October 8th.

Nouveau Monde Graphite Price Performance

Shares of NMG stock opened at $2.59 on Tuesday. The stock’s fifty day simple moving average is $2.76 and its 200 day simple moving average is $2.40. Nouveau Monde Graphite has a one year low of $1.30 and a one year high of $6.06. The firm has a market cap of $415.49 million, a price-to-earnings ratio of -3.92 and a beta of 0.87. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.62 and a quick ratio of 0.62.

Nouveau Monde Graphite (NYSE:NMG) last posted its earnings results on Wednesday, November 12th. The company reported ($0.06) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.06). On average, analysts expect that Nouveau Monde Graphite will post -0.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NMG. Banque Cantonale Vaudoise acquired a new position in shares of Nouveau Monde Graphite during the third quarter worth about $58,000. XTX Topco Ltd boosted its position in Nouveau Monde Graphite by 100.8% during the 2nd quarter. XTX Topco Ltd now owns 25,522 shares of the company’s stock worth $42,000 after acquiring an additional 12,811 shares during the last quarter. Susquehanna International Group LLP acquired a new position in Nouveau Monde Graphite during the 3rd quarter worth approximately $96,000. Brookwood Investment Group LLC bought a new position in shares of Nouveau Monde Graphite during the 3rd quarter worth approximately $152,000. Finally, Millennium Management LLC acquired a new stake in shares of Nouveau Monde Graphite in the third quarter valued at approximately $196,000. 41.09% of the stock is owned by institutional investors and hedge funds.

About Nouveau Monde Graphite

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.