Nouveau Monde Graphite (NYSE:NMG) Issues Earnings Results, Beats Expectations By $0.01 EPS

Nouveau Monde Graphite (NYSE:NMG) issued its quarterly earnings results on Wednesday. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01, Zacks reports.

Nouveau Monde Graphite Stock Up 12.0%

NYSE NMG traded up $0.34 during trading hours on Wednesday, hitting $3.13. The company had a trading volume of 1,430,401 shares, compared to its average volume of 278,595. The firm’s 50 day moving average is $2.72 and its 200 day moving average is $2.14. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.70 and a quick ratio of 1.70. Nouveau Monde Graphite has a fifty-two week low of $1.22 and a fifty-two week high of $6.06. The company has a market capitalization of $477.31 million, a price-to-earnings ratio of -8.93 and a beta of 0.86.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Roth Capital set a $4.70 target price on Nouveau Monde Graphite and gave the company a “buy” rating in a research note on Thursday, October 16th. Zacks Research downgraded shares of Nouveau Monde Graphite from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. National Bankshares raised shares of Nouveau Monde Graphite to an “outperform” rating in a research note on Monday, November 3rd. HC Wainwright upped their price objective on Nouveau Monde Graphite from $2.75 to $7.50 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Nouveau Monde Graphite in a report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $4.87.

Institutional Investors Weigh In On Nouveau Monde Graphite

An institutional investor recently raised its position in Nouveau Monde Graphite stock. XTX Topco Ltd increased its stake in shares of Nouveau Monde Graphite Inc. (NYSE:NMG) by 100.8% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 25,522 shares of the company’s stock after acquiring an additional 12,811 shares during the period. XTX Topco Ltd’s holdings in Nouveau Monde Graphite were worth $42,000 at the end of the most recent reporting period. 41.09% of the stock is currently owned by institutional investors.

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.