Brokerages Set Nouveau Monde Graphite Inc. (NYSE:NMG) Target Price at $4.87

Shares of Nouveau Monde Graphite Inc. (NYSE:NMG) have earned an average recommendation of “Moderate Buy” from the eight brokerages that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $4.8667.

A number of brokerages have weighed in on NMG. Zacks Research upgraded Nouveau Monde Graphite from a “strong sell” rating to a “hold” rating in a research note on Monday, December 15th. HC Wainwright increased their price target on shares of Nouveau Monde Graphite from $2.75 to $7.50 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Roth Capital set a $4.70 price objective on shares of Nouveau Monde Graphite and gave the company a “buy” rating in a research note on Thursday, October 16th. BMO Capital Markets assumed coverage on shares of Nouveau Monde Graphite in a research note on Friday, December 12th. They set an “outperform” rating for the company. Finally, Wall Street Zen lowered Nouveau Monde Graphite to a “strong sell” rating in a report on Saturday, November 1st.

Nouveau Monde Graphite Stock Performance

NYSE NMG opened at $2.46 on Tuesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.62 and a quick ratio of 0.62. Nouveau Monde Graphite has a 1 year low of $1.30 and a 1 year high of $6.06. The company has a market capitalization of $395.40 million, a PE ratio of -3.73 and a beta of 0.87. The company has a fifty day moving average of $2.76 and a two-hundred day moving average of $2.39.

Nouveau Monde Graphite (NYSE:NMG) last posted its earnings results on Wednesday, November 12th. The company reported ($0.06) EPS for the quarter, hitting analysts’ consensus estimates of ($0.06). As a group, analysts expect that Nouveau Monde Graphite will post -0.47 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of NMG. XTX Topco Ltd raised its stake in shares of 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 last quarter. Banque Cantonale Vaudoise purchased a new position in Nouveau Monde Graphite during the 3rd quarter worth $58,000. Susquehanna International Group LLP purchased a new position in Nouveau Monde Graphite during the 3rd quarter worth $96,000. Brookwood Investment Group LLC acquired a new stake in shares of Nouveau Monde Graphite in the 3rd quarter worth $152,000. Finally, Millennium Management LLC purchased a new stake in shares of Nouveau Monde Graphite in the third quarter valued at about $196,000. 41.09% of the stock is currently owned by hedge funds and other institutional investors.

About Nouveau Monde Graphite

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.