Nouveau Monde Graphite (CVE:NOU) Trading Up 5.5% – Still a Buy?

Nouveau Monde Graphite Inc. (CVE:NOU)’s share price rose 5.5% during mid-day trading on Monday . The stock traded as high as C$3.40 and last traded at C$3.24. Approximately 108,430 shares traded hands during mid-day 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 Analyst Weigh In

NOU has been the topic of a number of research reports. BMO Capital Markets set a C$6.00 target price on shares of Nouveau Monde Graphite and gave the stock an “outperform” rating in a research report on Friday, December 12th. Maxim Group upgraded Nouveau Monde Graphite to a “strong-buy” rating in a report on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of C$5.50.

Nouveau Monde Graphite Trading Up 5.5%

The firm has a market capitalization of C$493.33 million, a PE ratio of -5.40 and a beta of 1.82. The company has a quick ratio of 1.29, a current ratio of 3.58 and a debt-to-equity ratio of 105.58. The company’s 50-day simple moving average is C$3.24 and its 200 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.