Nouveau Monde Graphite Inc. (NYSE:NMG) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Nouveau Monde Graphite Inc. (NYSE:NMG) have earned a consensus rating of “Moderate Buy” from the seven research firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $5.40.

Several equities research analysts recently issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nouveau Monde Graphite in a report on Thursday, January 22nd. BMO Capital Markets initiated coverage on Nouveau Monde Graphite in a report on Friday, December 12th. They set an “outperform” rating for the company. Zacks Research upgraded Nouveau Monde Graphite from a “strong sell” rating to a “hold” rating in a research report on Monday, December 15th. HC Wainwright dropped their price target on Nouveau Monde Graphite from $7.50 to $5.50 and set a “buy” rating for the company in a research report on Friday, January 30th. Finally, Maxim Group started coverage on Nouveau Monde Graphite in a research note on Tuesday, January 20th. They issued a “buy” rating and a $6.00 price objective for the company.

Institutional Investors Weigh In On Nouveau Monde Graphite

Hedge funds have recently modified their holdings of the business. XTX Topco Ltd lifted its stake in shares of Nouveau Monde Graphite by 100.8% in the second quarter. XTX Topco Ltd now owns 25,522 shares of the company’s stock worth $42,000 after buying an additional 12,811 shares in the last quarter. Brookwood Investment Group LLC acquired a new position in Nouveau Monde Graphite during the third quarter worth about $152,000. K.J. Harrison & Partners Inc purchased a new stake in Nouveau Monde Graphite during the 3rd quarter valued at about $269,000. Banque Cantonale Vaudoise purchased a new stake in Nouveau Monde Graphite during the 3rd quarter valued at about $58,000. Finally, Financial Sense Advisors Inc. acquired a new stake in Nouveau Monde Graphite in the 3rd quarter valued at about $256,000. 41.09% of the stock is currently owned by institutional investors and hedge funds.

Nouveau Monde Graphite Stock Down 2.9%

NMG stock opened at $2.16 on Friday. The stock has a market capitalization of $346.59 million, a P/E ratio of -3.27 and a beta of 0.87. The firm has a 50-day simple moving average of $2.51 and a 200-day simple moving average of $2.63. 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.

Nouveau Monde Graphite Company Profile

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.