Nouveau Monde Graphite Inc. (NYSE:NMG) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Nouveau Monde Graphite Inc. (NYSE:NMG) have been assigned a consensus rating of “Hold” from the seven research firms that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $4.8667.

A number of research analysts have recently issued reports on NMG shares. HC Wainwright increased their target price on Nouveau Monde Graphite from $2.75 to $7.50 and gave the company a “buy” rating in a research report 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 report on Thursday, October 16th. National Bank Financial upgraded shares of Nouveau Monde Graphite to a “hold” rating in a research report on Thursday, September 11th. National Bankshares upgraded shares of Nouveau Monde Graphite to an “outperform” rating in a research report on Monday, November 3rd. Finally, Wall Street Zen cut Nouveau Monde Graphite to a “strong sell” rating in a report on Saturday, November 1st.

Nouveau Monde Graphite Stock Up 4.2%

NYSE:NMG opened at $3.22 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.62 and a quick ratio of 0.62. The company’s fifty day moving average price is $2.96 and its 200-day moving average price is $2.26. Nouveau Monde Graphite has a 1-year low of $1.25 and a 1-year high of $6.06. The firm has a market capitalization of $490.73 million, a P/E ratio of -4.88 and a beta of 0.86.

Nouveau Monde Graphite (NYSE:NMG) last issued its quarterly earnings data on Wednesday, November 12th. The company reported ($0.06) EPS for the quarter, meeting the consensus estimate of ($0.06). As a group, equities research analysts anticipate that Nouveau Monde Graphite will post -0.47 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. XTX Topco Ltd grew its holdings 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 buying an additional 12,811 shares in the last quarter. Arkadios Wealth Advisors acquired a new position in Nouveau Monde Graphite during the first quarter worth about $45,000. Banque Cantonale Vaudoise purchased a new stake in Nouveau Monde Graphite during the 3rd quarter valued at about $58,000. Susquehanna International Group LLP acquired a new stake in Nouveau Monde Graphite in the 3rd quarter valued at about $96,000. Finally, Brookwood Investment Group LLC purchased a new position in Nouveau Monde Graphite in the 3rd quarter worth approximately $152,000. 41.09% of the stock is owned by institutional investors and hedge funds.

About Nouveau Monde Graphite

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.