Nouveau Monde Graphite Inc. (NYSE:NMG) Receives Average Recommendation of “Buy” from Analysts

Nouveau Monde Graphite Inc. (NYSE:NMG) has been given a consensus rating of “Buy” by the eight brokerages that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a buy recommendation and three have issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $4.6667.

Several research firms have recently issued reports on NMG. Wall Street Zen raised shares of Nouveau Monde Graphite from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Zacks Research raised Nouveau Monde Graphite from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 25th. Roth Capital set a $3.50 price objective on shares of Nouveau Monde Graphite in a research note on Monday, May 18th. HC Wainwright reissued a “buy” rating and set a $4.50 target price on shares of Nouveau Monde Graphite in a research note on Monday, August 24th. Finally, Jefferies Financial Group began coverage on shares of Nouveau Monde Graphite in a research note on Wednesday, September 2nd. They issued a “buy” rating and a C$2.45 price objective for the company.

Institutional Trading of Nouveau Monde Graphite

Several institutional investors and hedge funds have recently modified their holdings of NMG. Intrepid Family Office LLC acquired a new stake in Nouveau Monde Graphite during the 4th quarter valued at $25,000. XTX Topco Ltd raised its stake in Nouveau Monde Graphite by 100.8% during 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 purchased a new stake in shares of Nouveau Monde Graphite during the 4th quarter valued at $46,000. Pacifica Partners Inc. purchased a new position in shares of Nouveau Monde Graphite in the 2nd quarter worth $47,000. Finally, Banque Cantonale Vaudoise purchased a new position in shares of Nouveau Monde Graphite in the 3rd quarter worth $58,000. Hedge funds and other institutional investors own 41.09% of the company’s stock.

Nouveau Monde Graphite Stock Down 2.5%

Shares of NMG opened at $1.34 on Friday. The company has a market cap of $214.87 million, a P/E ratio of -4.17 and a beta of 0.86. Nouveau Monde Graphite has a fifty-two week low of $1.26 and a fifty-two week high of $6.06. The firm’s 50 day moving average price is $1.42 and its 200 day moving average price is $1.78.

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

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.