Nouveau Monde Graphite (NYSE:NMG) Earns “Buy” Rating from HC Wainwright

Nouveau Monde Graphite (NYSE:NMG)‘s stock had its “buy” rating restated by equities research analysts at HC Wainwright in a research report issued to clients and investors on Monday, MarketBeat Ratings reports. They currently have a $4.50 target price on the stock. HC Wainwright’s price target indicates a potential upside of 201.00% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on NMG. Roth Capital set a $3.50 price target on shares of Nouveau Monde Graphite in a research report on Monday, May 18th. Weiss Ratings raised shares of Nouveau Monde Graphite from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 18th. Wall Street Zen upgraded Nouveau Monde Graphite from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Finally, Zacks Research lowered Nouveau Monde Graphite from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $4.67.

Nouveau Monde Graphite Price Performance

NMG stock opened at $1.50 on Monday. The business has a 50-day moving average price of $1.45 and a 200 day moving average price of $1.86. The company has a market capitalization of $240.44 million, a P/E ratio of -4.67 and a beta of 0.83. Nouveau Monde Graphite has a 1-year low of $1.26 and a 1-year high of $6.06.

Nouveau Monde Graphite (NYSE:NMG) last issued its earnings results on Wednesday, August 12th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.06. On average, analysts anticipate that Nouveau Monde Graphite will post -0.2 earnings per share for the current fiscal year.

Institutional Trading of Nouveau Monde Graphite

Institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC boosted its stake in Nouveau Monde Graphite by 1,185.2% in the first quarter. Renaissance Technologies LLC now owns 1,433,023 shares of the company’s stock valued at $3,210,000 after acquiring an additional 1,321,523 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Nouveau Monde Graphite by 405.9% during the 4th quarter. Millennium Management LLC now owns 349,950 shares of the company’s stock valued at $868,000 after purchasing an additional 280,771 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Nouveau Monde Graphite during the 4th quarter valued at $380,000. Bank of Montreal Can boosted its position in shares of Nouveau Monde Graphite by 236.1% in the 4th quarter. Bank of Montreal Can now owns 164,312 shares of the company’s stock worth $401,000 after purchasing an additional 115,424 shares in the last quarter. Finally, Financial Sense Advisors Inc. acquired a new stake in shares of Nouveau Monde Graphite in the 3rd quarter worth $256,000. 41.09% of the stock is currently owned by institutional investors.

Nouveau Monde Graphite Company Profile

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.