Nouveau Monde Graphite (CVE:NOU) Trading Up 5.5% – What’s Next?

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

Wall Street Analysts Forecast Growth

NOU has been the subject of several recent analyst reports. BMO Capital Markets set a C$6.00 price objective on shares of Nouveau Monde Graphite and gave the stock an “outperform” rating in a research report on Friday, December 12th. National Bank Financial raised shares of Nouveau Monde Graphite from a “sector perform” rating to an “outperform” rating and increased their price target for the company from C$3.50 to C$5.00 in a research note on Tuesday, November 4th. Finally, Maxim Group raised shares of Nouveau Monde Graphite to a “strong-buy” rating in a research report on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. Based on data from MarketBeat.com, Nouveau Monde Graphite currently has an average rating of “Buy” and a consensus target price of C$5.50.

Nouveau Monde Graphite Trading Up 5.5%

The company has a debt-to-equity ratio of 16.18, a current ratio of 1.74 and a quick ratio of 1.29. The company has a market cap of C$493.33 million, a PE ratio of -5.40 and a beta of 1.82. The company’s 50 day simple moving average is C$3.24 and its two-hundred day simple moving average is C$3.24.

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. It also involved in the real estate and trading activities. The company was formerly known as Nouveau Monde Mining Enterprises Inc and changed its name to Nouveau Monde Graphite Inc in February 2017.