Brokerages Set Nouveau Monde Graphite Inc. (NYSE:NMG) PT at $5.40

Nouveau Monde Graphite Inc. (NYSE:NMG) has received an average recommendation of “Moderate Buy” from the seven brokerages that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $5.40.

Several equities research analysts recently commented on the company. Zacks Research upgraded Nouveau Monde Graphite from a “strong sell” rating to a “hold” rating in a report on Monday, December 15th. HC Wainwright dropped their price target on shares of Nouveau Monde Graphite from $7.50 to $5.50 and set a “buy” rating on the stock in a report on Friday, January 30th. Maxim Group began coverage on shares of Nouveau Monde Graphite in a research note on Tuesday, January 20th. They issued a “buy” rating and a $6.00 price target for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Nouveau Monde Graphite in a report on Thursday, January 22nd. Finally, BMO Capital Markets assumed coverage on shares of Nouveau Monde Graphite in a research report on Friday, December 12th. They set an “outperform” rating on the stock.

Nouveau Monde Graphite Stock Performance

Shares of NMG opened at $2.26 on Wednesday. The company has a market cap of $363.63 million, a price-to-earnings ratio of -3.43 and a beta of 0.87. The business’s fifty day simple moving average is $2.60 and its two-hundred day simple moving average is $2.61. Nouveau Monde Graphite has a 12 month low of $1.30 and a 12 month high of $6.06. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.04.

Institutional Trading of Nouveau Monde Graphite

Large investors have recently modified their holdings of the company. Intrepid Family Office LLC bought a new position in Nouveau Monde Graphite in the fourth quarter valued at about $25,000. XTX Topco Ltd lifted its stake 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 worth $42,000 after purchasing an additional 12,811 shares during the period. Royal Bank of Canada boosted its holdings in shares of Nouveau Monde Graphite by 36.7% in the fourth quarter. Royal Bank of Canada now owns 68,298 shares of the company’s stock worth $170,000 after buying an additional 18,329 shares during the last quarter. CWM LLC bought a new stake in Nouveau Monde Graphite during the fourth quarter valued at approximately $46,000. Finally, Banque Cantonale Vaudoise purchased a new stake in Nouveau Monde Graphite during the third quarter valued at approximately $58,000. Institutional investors own 41.09% of the company’s stock.

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.