Nouveau Monde Graphite (NYSE:NMG) Issues Quarterly Earnings Results

Nouveau Monde Graphite (NYSE:NMG) announced its quarterly earnings results on Wednesday. The company reported ($0.06) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.06), Zacks reports.

Nouveau Monde Graphite Stock Up 0.3%

Shares of NYSE:NMG traded up $0.01 during trading on Thursday, hitting $3.14. 1,032,981 shares of the company were exchanged, compared to its average volume of 281,571. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.70 and a quick ratio of 1.70. The firm’s 50 day moving average price is $2.74 and its 200-day moving average price is $2.15. The stock has a market capitalization of $479.62 million, a P/E ratio of -8.87 and a beta of 0.86. Nouveau Monde Graphite has a 12-month low of $1.22 and a 12-month high of $6.06.

Analysts Set New Price Targets

NMG has been the subject of several research reports. Wall Street Zen cut Nouveau Monde Graphite to a “strong sell” rating in a research note on Saturday, November 1st. National Bank Financial raised Nouveau Monde Graphite to a “hold” rating in a report on Thursday, September 11th. HC Wainwright boosted their target price on Nouveau Monde Graphite from $2.75 to $7.50 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Zacks Research lowered Nouveau Monde Graphite from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 14th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nouveau Monde Graphite in a research note 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. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $4.87.

Institutional Investors Weigh In On Nouveau Monde Graphite

A hedge fund recently bought a new stake in Nouveau Monde Graphite stock. Banque Cantonale Vaudoise acquired a new position in shares of Nouveau Monde Graphite Inc. (NYSE:NMG) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 20,800 shares of the company’s stock, valued at approximately $58,000. Institutional investors and hedge funds own 41.09% of the company’s stock.

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.