Nouveau Monde Graphite (NYSE:NMG) Issues Earnings Results

Nouveau Monde Graphite (NYSE:NMG) posted its quarterly earnings data on Wednesday. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.06, Zacks reports.

Nouveau Monde Graphite Stock Performance

Shares of NMG stock traded up $0.03 during trading hours on Wednesday, reaching $1.44. 292,702 shares of the company’s stock were exchanged, compared to its average volume of 951,367. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.75 and a quick ratio of 0.75. The company’s 50 day moving average is $1.47 and its two-hundred day moving average is $1.94. The company has a market cap of $231.59 million, a P/E ratio of -3.20 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.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NMG. XTX Topco Ltd lifted its holdings in Nouveau Monde Graphite by 100.8% in the second quarter. XTX Topco Ltd now owns 25,522 shares of the company’s stock valued at $42,000 after acquiring an additional 12,811 shares during the period. Banque Cantonale Vaudoise acquired a new stake in shares of Nouveau Monde Graphite in the third quarter valued at about $58,000. Susquehanna International Group LLP purchased a new stake in Nouveau Monde Graphite during the third quarter worth about $96,000. Royal Bank of Canada grew its position in Nouveau Monde Graphite by 36.7% during 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 period. Finally, Millennium Management LLC purchased a new position in Nouveau Monde Graphite in the third quarter valued at about $196,000. Hedge funds and other institutional investors own 41.09% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on NMG shares. Weiss Ratings restated a “sell (e+)” rating on shares of Nouveau Monde Graphite in a research note on Monday, July 6th. Wall Street Zen lowered shares of Nouveau Monde Graphite from a “hold” rating to a “sell” rating in a research report on Monday, June 29th. National Bank Financial raised shares of Nouveau Monde Graphite to a “strong-buy” rating in a research note on Friday, April 17th. HC Wainwright cut their price objective on shares of Nouveau Monde Graphite from $5.50 to $4.50 and set a “buy” rating for the company in a research report on Thursday, May 21st. Finally, Roth Capital set a $3.50 price objective on shares of Nouveau Monde Graphite in a research report on Monday, May 18th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $4.67.

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.