Zacks Research Downgrades Nouveau Monde Graphite (NYSE:NMG) to Hold

Nouveau Monde Graphite (NYSE:NMG) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

NMG has been the subject of several other research reports. Roth Capital set a $3.50 price target on Nouveau Monde Graphite in a report on Monday, May 18th. Wall Street Zen downgraded Nouveau Monde Graphite from a “hold” rating to a “sell” rating in a research report on Monday, June 29th. HC Wainwright cut their target price on shares of Nouveau Monde Graphite from $5.50 to $4.50 and set a “buy” rating for the company in a report on Thursday, May 21st. Weiss Ratings reissued a “sell (e+)” rating on shares of Nouveau Monde Graphite in a report on Monday, July 6th. Finally, National Bank Financial upgraded shares of Nouveau Monde Graphite to a “strong-buy” rating in a research report on Friday, April 17th. Two 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 stock. According to data from MarketBeat, Nouveau Monde Graphite has a consensus rating of “Moderate Buy” and a consensus price target of $4.67.

Nouveau Monde Graphite Price Performance

Shares of NYSE:NMG opened at $1.33 on Monday. The firm has a market cap of $214.71 million, a price-to-earnings ratio of -2.97 and a beta of 0.81. The firm has a fifty day moving average price of $1.58 and a 200 day moving average price of $2.05. Nouveau Monde Graphite has a fifty-two week low of $1.26 and a fifty-two week high of $6.06. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.75 and a current ratio of 0.75.

Nouveau Monde Graphite (NYSE:NMG) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.06. As a group, sell-side analysts expect that Nouveau Monde Graphite will post -0.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nouveau Monde Graphite

Several institutional investors have recently made changes to their positions in NMG. Intrepid Family Office LLC purchased a new position in shares of Nouveau Monde Graphite during the 4th quarter worth about $25,000. XTX Topco Ltd raised its position in 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. CWM LLC bought a new stake in Nouveau Monde Graphite in the fourth quarter worth about $46,000. Banque Cantonale Vaudoise bought a new stake in Nouveau Monde Graphite in the third quarter worth about $58,000. Finally, Susquehanna International Group LLP purchased a new position in shares of Nouveau Monde Graphite during the third quarter valued at approximately $96,000. Institutional investors own 41.09% of the company’s stock.

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.