National Bank Financial Lowers Nouveau Monde Graphite (CVE:NOU) Price Target to C$4.50

Nouveau Monde Graphite (CVE:NOU) had its price target decreased by equities researchers at National Bank Financial from C$4.75 to C$4.50 in a research report issued on Friday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. National Bank Financial’s price objective suggests a potential upside of 38.89% from the company’s current price.

Separately, Maxim Group upgraded shares of Nouveau Monde Graphite to a “strong-buy” rating in a research note on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of C$5.25.

Nouveau Monde Graphite Stock Performance

Shares of CVE NOU traded up C$0.17 during mid-day trading on Friday, reaching C$3.24. 108,430 shares of the company were exchanged, compared to its average volume of 83,890. The company’s 50-day simple moving average is C$3.24 and its 200-day simple moving average is C$3.24. 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 stock has a market capitalization of C$493.33 million, a P/E ratio of -5.40 and a beta of 1.82. Nouveau Monde Graphite has a twelve month low of C$1.70 and a twelve month high of C$4.14.

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.