Zacks Research Upgrades Nouveau Monde Graphite (NYSE:NMG) to Hold

Nouveau Monde Graphite (NYSE:NMG) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

NMG has been the topic of a number of other research reports. National Bank Financial raised Nouveau Monde Graphite to a “hold” rating in a report on Thursday, September 11th. Roth Capital set a $4.70 price objective on Nouveau Monde Graphite and gave the company a “buy” rating in a research report on Thursday, October 16th. Weiss Ratings restated a “sell (d-)” rating on shares of Nouveau Monde Graphite in a research note on Wednesday, October 8th. BMO Capital Markets initiated coverage on shares of Nouveau Monde Graphite in a research report on Friday. They set an “outperform” rating on the stock. Finally, HC Wainwright increased their price target on shares of Nouveau Monde Graphite from $2.75 to $7.50 and gave the company a “buy” rating in a report on Wednesday, October 15th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $4.87.

Nouveau Monde Graphite Stock Performance

Shares of NMG opened at $3.04 on Monday. The company has a market capitalization of $463.91 million, a PE ratio of -4.61 and a beta of 0.86. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.62 and a quick ratio of 0.62. Nouveau Monde Graphite has a one year low of $1.30 and a one year high of $6.06. The company’s fifty day moving average price is $3.00 and its 200 day moving average price is $2.33.

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

Institutional Investors Weigh In On Nouveau Monde Graphite

Large investors have recently bought and sold shares of the business. XTX Topco Ltd raised its position in Nouveau Monde Graphite by 100.8% in the 2nd 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 last quarter. Brookwood Investment Group LLC bought a new position in shares of Nouveau Monde Graphite in the third quarter valued at about $152,000. K.J. Harrison & Partners Inc bought a new position in shares of Nouveau Monde Graphite in the third quarter valued at about $269,000. Banque Cantonale Vaudoise acquired a new position in Nouveau Monde Graphite during the 3rd quarter worth about $58,000. Finally, Financial Sense Advisors Inc. bought a new stake in Nouveau Monde Graphite during the 3rd quarter worth about $256,000. 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.