Nouveau Monde Graphite (NYSE:NMG) Downgraded to Hold Rating by Zacks Research

Zacks Research lowered shares of Nouveau Monde Graphite (NYSE:NMG) from a strong-buy rating to a hold rating in a report issued on Monday,Zacks.com reports.

A number of other equities analysts have also recently commented on the company. Weiss Ratings reaffirmed 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 report on Monday, June 29th. HC Wainwright cut their price target on shares of 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 shares of Nouveau Monde Graphite to a “strong-buy” rating in a research note on Friday, April 17th. Finally, Roth Capital set a $3.50 target price on shares of Nouveau Monde Graphite in a report on Monday, May 18th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $4.67.

Nouveau Monde Graphite Stock Up 0.4%

Shares of NYSE:NMG opened at $1.33 on Monday. The stock has a market capitalization of $214.71 million, a P/E ratio of -2.97 and a beta of 0.81. The stock’s 50-day moving average price is $1.58 and its 200-day moving average price is $2.05. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.02. Nouveau Monde Graphite has a 12-month low of $1.26 and a 12-month high of $6.06.

Nouveau Monde Graphite (NYSE:NMG) last released its earnings results on Tuesday, May 12th. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.06. On average, equities analysts anticipate that Nouveau Monde Graphite will post -0.2 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in NMG. Intrepid Family Office LLC bought a new position in shares of Nouveau Monde Graphite in the 4th quarter worth approximately $25,000. XTX Topco Ltd grew its stake in Nouveau Monde Graphite by 100.8% in the second 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 position in Nouveau Monde Graphite in the fourth quarter worth $46,000. Banque Cantonale Vaudoise purchased a new position in Nouveau Monde Graphite during the third quarter valued at $58,000. Finally, Susquehanna International Group LLP bought a new stake in shares of Nouveau Monde Graphite during the 3rd quarter valued at $96,000. 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.