Nouveau Monde Graphite (NYSE:NMG) Upgraded to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Nouveau Monde Graphite (NYSE:NMG) from a hold rating to a strong-buy rating in a research report released on Tuesday,Zacks.com reports.

Several other analysts also recently weighed in on the stock. Weiss Ratings upgraded shares of Nouveau Monde Graphite from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 18th. HC Wainwright reaffirmed a “buy” rating and issued a $4.50 price objective on shares of Nouveau Monde Graphite in a research note on Monday. Wall Street Zen raised Nouveau Monde Graphite from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Finally, Roth Capital set a $3.50 target price on Nouveau Monde Graphite in a research note on Monday, May 18th. Three analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $4.67.

Nouveau Monde Graphite Price Performance

NYSE NMG opened at $1.48 on Tuesday. The firm’s 50-day moving average is $1.44 and its two-hundred day moving average is $1.84. Nouveau Monde Graphite has a 12 month low of $1.26 and a 12 month high of $6.06. The stock has a market capitalization of $237.22 million, a P/E ratio of -4.61 and a beta of 0.83.

Nouveau Monde Graphite (NYSE:NMG) last announced its quarterly earnings results on Wednesday, August 12th. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.06. As a group, analysts anticipate that Nouveau Monde Graphite will post -0.11 EPS for the current year.

Institutional Trading of Nouveau Monde Graphite

A number of large investors have recently modified their holdings of the stock. Intrepid Family Office LLC acquired a new stake in shares of Nouveau Monde Graphite in the fourth quarter valued at $25,000. CWM LLC acquired a new position in Nouveau Monde Graphite during the 4th quarter worth $46,000. Banque Cantonale Vaudoise acquired a new position in Nouveau Monde Graphite during the 3rd quarter worth $58,000. XTX Topco Ltd increased its holdings in Nouveau Monde Graphite by 100.8% during 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. Finally, Pacifica Partners Inc. purchased a new stake in Nouveau Monde Graphite during the 2nd quarter worth about $47,000. Hedge funds and other 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.