Nouveau Monde Graphite (CVE:NOU) Trading Up 5.5% – Here’s Why

Nouveau Monde Graphite Inc. (CVE:NOU)’s stock price was up 5.5% during mid-day trading on Tuesday . The stock traded as high as C$3.40 and last traded at C$3.24. 108,430 shares changed hands during trading, an increase of 29% from the average daily volume of 83,890 shares. The stock had previously closed at C$3.07.

Analyst Upgrades and Downgrades

Separately, National Bank Financial decreased their target price on Nouveau Monde Graphite from C$4.75 to C$4.50 and set an “outperform” rating on the stock in a research note on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of C$5.25.

Nouveau Monde Graphite Trading Up 5.5%

The company has a quick ratio of 1.29, a current ratio of 3.58 and a debt-to-equity ratio of 105.58. The firm has a market capitalization of C$493.33 million, a P/E ratio of -5.40 and a beta of 1.82. The firm’s 50-day simple moving average is C$3.24 and its 200-day simple moving average is C$3.24.

Nouveau Monde Graphite Company Profile

Nouveau Monde Graphite Inc engages in the acquisition, exploration, development, and evaluation of mineral properties in Quebec, Canada. It primarily explores for graphite. The company's flagship property is the 100% owned Matawinie graphite property including 176 mining claims covering an area of 9,264 hectares located in Quebec. It also involved in the real estate and trading activities. The company was formerly known as Nouveau Monde Mining Enterprises Inc and changed its name to Nouveau Monde Graphite Inc in February 2017.