Nouveau Monde Graphite Inc. (NYSE:NMG) Stock Has Average Price Target of $3.87

Nouveau Monde Graphite Inc. (NYSE:NMG) has been assigned a consensus recommendation of “Moderate Buy” from the eight analysts that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and two have given a strong buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $3.87.

Several research firms have recently weighed in on NMG. HC Wainwright reiterated a “buy” rating and issued a $4.50 target price on shares of Nouveau Monde Graphite in a research note on Monday, August 24th. Wall Street Zen raised shares of Nouveau Monde Graphite from a “sell” rating to a “hold” rating in a report on Saturday, October 24th. Freedom Broker began coverage on shares of Nouveau Monde Graphite in a research note on Thursday, October 1st. They issued a “hold” rating and a $1.48 price objective for the company. Zacks Research cut shares of Nouveau Monde Graphite from a “strong-buy” rating to a “hold” rating in a report on Friday, October 23rd. Finally, Weiss Ratings upgraded Nouveau Monde Graphite from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday.

Institutional Trading of Nouveau Monde Graphite

Institutional investors and hedge funds have recently bought and sold shares of the company. Pacifica Partners Inc. purchased a new position in shares of Nouveau Monde Graphite during the 2nd quarter valued at $47,000. AXQ Capital LP grew its position in Nouveau Monde Graphite by 19.4% during the second quarter. AXQ Capital LP now owns 56,985 shares of the company’s stock worth $85,000 after buying an additional 9,242 shares in the last quarter. Bank of America Corp DE grew its position in Nouveau Monde Graphite by 5,215.1% during the first quarter. Bank of America Corp DE now owns 89,826 shares of the company’s stock worth $201,000 after buying an additional 88,136 shares in the last quarter. Banque Cantonale Vaudoise grew its position in Nouveau Monde Graphite by 119.7% during the first quarter. Banque Cantonale Vaudoise now owns 116,000 shares of the company’s stock worth $260,000 after buying an additional 63,200 shares in the last quarter. Finally, Brooklands Fund Management Ltd increased its stake in Nouveau Monde Graphite by 88.6% in the 1st quarter. Brooklands Fund Management Ltd now owns 120,000 shares of the company’s stock worth $269,000 after acquiring an additional 56,384 shares during the last quarter. 41.09% of the stock is currently owned by hedge funds and other institutional investors.

Nouveau Monde Graphite Price Performance

Shares of Nouveau Monde Graphite stock opened at $1.02 on Monday. Nouveau Monde Graphite has a 1 year low of $0.87 and a 1 year high of $3.60. The firm has a market cap of $335.74 million, a PE ratio of -3.19 and a beta of 0.84. The stock has a fifty day moving average price of $1.23 and a 200-day moving average price of $1.79.

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

Nouveau Monde Graphite Company Profile

Nouveau Monde Graphite Inc is a Canadian company developing an integrated source of natural graphite and battery-anode material in Quebec. The company is focused on supplying graphite products for lithium-ion batteries used in electric vehicles, energy-storage systems and other clean-technology applications.

Nouveau Monde’s principal assets include the Matawinie graphite project, an open-pit mine and concentrator planned near Saint-Michel-des-Saints, Quebec, and a battery-materials plant in Bécancour, Quebec.