Jefferies Financial Group Upgrades Nouveau Monde Graphite (NYSE:NMG) to “Strong-Buy”

Nouveau Monde Graphite (NYSE:NMG) was upgraded by stock analysts at Jefferies Financial Group to a “strong-buy” rating in a research note issued on Wednesday, Zacks reports.

Several other analysts have also weighed in on NMG. HC Wainwright reissued a “buy” rating and set a $4.50 price objective on shares of Nouveau Monde Graphite in a report on Monday, August 24th. Zacks Research raised shares of Nouveau Monde Graphite from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 25th. Weiss Ratings raised shares of Nouveau Monde Graphite from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 18th. Wall Street Zen upgraded shares of Nouveau Monde Graphite from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Finally, Roth Capital set a $3.50 price target on shares of Nouveau Monde Graphite in a research report on Monday, May 18th. Four research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $4.67.

Nouveau Monde Graphite Trading Up 1.8%

Shares of NMG stock opened at $1.44 on Wednesday. The firm has a market capitalization of $230.79 million, a P/E ratio of -4.48 and a beta of 0.86. Nouveau Monde Graphite has a 1 year low of $1.26 and a 1 year high of $6.06. The firm’s fifty day simple moving average is $1.44 and its 200 day simple moving average is $1.82.

Nouveau Monde Graphite (NYSE:NMG) last posted its quarterly earnings results on Wednesday, August 12th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.06. Equities research analysts anticipate that Nouveau Monde Graphite will post -0.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of NMG. Intrepid Family Office LLC acquired a new position in shares of Nouveau Monde Graphite in the 4th quarter worth approximately $25,000. XTX Topco Ltd grew 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 valued at $42,000 after purchasing an additional 12,811 shares during the last quarter. CWM LLC acquired a new stake in shares of Nouveau Monde Graphite in the 4th quarter valued at $46,000. Pacifica Partners Inc. acquired a new stake in Nouveau Monde Graphite in the second quarter worth about $47,000. Finally, Banque Cantonale Vaudoise acquired a new stake in shares of Nouveau Monde Graphite during the 3rd quarter worth approximately $58,000. Institutional investors own 41.09% of the company’s stock.

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.