Nouveau Monde Graphite Inc. (NYSE:NMG) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Nouveau Monde Graphite Inc. (NYSE:NMG) have been assigned a consensus rating of “Moderate Buy” from the seven ratings firms that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and two have given a strong buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $4.6667.

A number of research analysts recently commented on the company. Wall Street Zen raised Nouveau Monde Graphite from a “sell” rating to a “hold” rating in a report on Saturday, May 23rd. HC Wainwright lowered their price target on Nouveau Monde Graphite from $5.50 to $4.50 and set a “buy” rating on the stock in a report on Thursday, May 21st. National Bank Financial raised Nouveau Monde Graphite to a “strong-buy” rating in a report on Friday, April 17th. Finally, Roth Mkm set a $3.50 price target on Nouveau Monde Graphite in a report on Monday, May 18th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in NMG. Renaissance Technologies LLC lifted its holdings in Nouveau Monde Graphite by 1,185.2% in the 1st quarter. Renaissance Technologies LLC now owns 1,433,023 shares of the company’s stock worth $3,210,000 after purchasing an additional 1,321,523 shares in the last quarter. Millennium Management LLC lifted its holdings in Nouveau Monde Graphite by 405.9% in the 4th quarter. Millennium Management LLC now owns 349,950 shares of the company’s stock worth $868,000 after purchasing an additional 280,771 shares in the last quarter. Marshall Wace LLP purchased a new position in Nouveau Monde Graphite in the 4th quarter worth approximately $380,000. Bank of Montreal Can lifted its holdings in 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, K.J. Harrison & Partners Inc purchased a new position in Nouveau Monde Graphite in the 3rd quarter worth approximately $269,000. 41.09% of the stock is owned by hedge funds and other institutional investors.

Nouveau Monde Graphite Stock Up 0.8%

NMG stock opened at $1.93 on Friday. Nouveau Monde Graphite has a twelve month low of $1.60 and a twelve month high of $6.06. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.02. The stock has a market cap of $309.60 million, a P/E ratio of -4.28 and a beta of 0.74. The business’s 50-day moving average price is $2.07 and its 200-day moving average price is $2.42.

Nouveau Monde Graphite (NYSE:NMG) last posted its quarterly earnings data on Wednesday, May 13th. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.06. On average, equities research analysts forecast that Nouveau Monde Graphite will post -0.2 EPS for the current year.

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.