Nouveau Monde Graphite (NYSE:NMG) Now Covered by Analysts at Maxim Group

Equities researchers at Maxim Group initiated coverage on shares of Nouveau Monde Graphite (NYSE:NMG) in a note issued to investors on Tuesday. The brokerage set a “buy” rating and a $6.00 price target on the stock. Maxim Group’s price objective points to a potential upside of 98.48% from the company’s current price.

Several other research analysts have also recently issued reports on NMG. Zacks Research raised shares of Nouveau Monde Graphite from a “strong sell” rating to a “hold” rating in a report on Monday, December 15th. National Bankshares upgraded Nouveau Monde Graphite to an “outperform” rating in a research report on Monday, November 3rd. HC Wainwright raised their price target on Nouveau Monde Graphite from $2.75 to $7.50 and gave the company 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, December 12th. They issued an “outperform” rating on the stock. Finally, 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. Six investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $5.15.

Nouveau Monde Graphite Stock Performance

NYSE:NMG traded down $0.04 during midday trading on Tuesday, reaching $3.02. The stock had a trading volume of 151,737 shares, compared to its average volume of 744,877. 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 stock has a market cap of $485.89 million, a P/E ratio of -4.62 and a beta of 0.87. The firm has a fifty day simple moving average of $2.82 and a two-hundred day simple moving average of $2.51. Nouveau Monde Graphite has a 12-month low of $1.30 and a 12-month high of $6.06.

Nouveau Monde Graphite (NYSE:NMG) last announced its quarterly earnings data on Wednesday, November 12th. The company reported ($0.06) EPS for the quarter, hitting analysts’ consensus estimates of ($0.06). On average, equities analysts expect that Nouveau Monde Graphite will post -0.47 EPS for the current year.

Hedge Funds Weigh In On Nouveau Monde Graphite

Hedge funds have recently bought and sold shares of the company. K.J. Harrison & Partners Inc purchased a new stake in Nouveau Monde Graphite during the third quarter worth $269,000. Financial Sense Advisors Inc. purchased a new position in shares of Nouveau Monde Graphite in the third quarter valued at $256,000. Millennium Management LLC acquired a new position in shares of Nouveau Monde Graphite during the 3rd quarter worth $196,000. Brookwood Investment Group LLC purchased a new stake in shares of Nouveau Monde Graphite in the 3rd quarter worth about $152,000. Finally, Susquehanna International Group LLP acquired a new stake in Nouveau Monde Graphite in the 3rd quarter valued at about $96,000. 41.09% of the stock is owned by hedge funds and other institutional investors.

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.