Nouveau Monde Graphite (CVE:NOU) Stock Price Up 5.5% – Time to Buy?

Nouveau Monde Graphite Inc. (CVE:NOU) shares rose 5.5% on Monday . The stock traded as high as C$3.40 and last traded at C$3.24. Approximately 108,430 shares changed hands during mid-day trading, an increase of 29% from the average daily volume of 83,890 shares. The stock had previously closed at C$3.07.

Analysts Set New Price Targets

NOU has been the topic of a number of recent analyst reports. Maxim Group raised Nouveau Monde Graphite to a “strong-buy” rating in a research report on Tuesday, January 20th. BMO Capital Markets set a C$6.00 price objective on Nouveau Monde Graphite and gave the stock an “outperform” rating in a research report on Friday, December 12th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to MarketBeat.com, Nouveau Monde Graphite presently has an average rating of “Buy” and a consensus target price of C$5.50.

Nouveau Monde Graphite Trading Up 5.5%

The stock’s fifty day simple moving average is C$3.24 and its 200-day simple moving average is C$3.24. The firm has a market cap of C$493.33 million, a PE ratio of -5.40 and a beta of 1.82. The company has a debt-to-equity ratio of 105.58, a current ratio of 3.58 and a quick ratio of 1.29.

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. It also involved in the real estate and trading activities. The company was formerly known as Nouveau Monde Mining Enterprises Inc and changed its name to Nouveau Monde Graphite Inc in February 2017.