Nouveau Monde Graphite (NYSE:NMG) Now Covered by Maxim Group

Equities researchers at Maxim Group initiated coverage on shares of Nouveau Monde Graphite (NYSE:NMG) in a research report issued on Tuesday. The firm set a “buy” rating and a $6.00 price target on the stock. Maxim Group’s price objective indicates a potential upside of 98.48% from the stock’s current price.

Several other equities research analysts also recently weighed in on NMG. BMO Capital Markets assumed coverage on Nouveau Monde Graphite in a report on Friday, December 12th. They set an “outperform” rating on the stock. Roth Capital set a $4.70 target price on shares of Nouveau Monde Graphite and gave the stock a “buy” rating in a research note on Thursday, October 16th. Wall Street Zen cut shares of Nouveau Monde Graphite to a “strong sell” rating in a report on Saturday, November 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nouveau Monde Graphite in a research note on Wednesday, October 8th. Finally, HC Wainwright increased their price objective on shares of Nouveau Monde Graphite from $2.75 to $7.50 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Six equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $5.15.

Nouveau Monde Graphite Stock Down 1.2%

NMG stock traded down $0.04 during midday trading on Tuesday, hitting $3.02. The company’s stock had a trading volume of 151,737 shares, compared to its average volume of 744,877. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.04. Nouveau Monde Graphite has a 52-week low of $1.30 and a 52-week high of $6.06. The firm has a market capitalization of $485.89 million, a P/E ratio of -4.62 and a beta of 0.87. The firm has a 50-day simple moving average of $2.82 and a 200-day simple moving average of $2.51.

Nouveau Monde Graphite (NYSE:NMG) last posted its quarterly earnings data on Wednesday, November 12th. The company reported ($0.06) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.06). As a group, equities analysts forecast that Nouveau Monde Graphite will post -0.47 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. XTX Topco Ltd increased its stake in Nouveau Monde Graphite by 100.8% in 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 period. Brookwood Investment Group LLC purchased a new position in shares of Nouveau Monde Graphite during the third quarter worth about $152,000. K.J. Harrison & Partners Inc purchased a new position in shares of Nouveau Monde Graphite during the third quarter worth about $269,000. Banque Cantonale Vaudoise acquired a new position in Nouveau Monde Graphite in the 3rd quarter valued at about $58,000. Finally, Financial Sense Advisors Inc. acquired a new position in Nouveau Monde Graphite in the 3rd quarter valued at about $256,000. 41.09% of the stock is owned by hedge funds and other institutional investors.

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.