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

Nouveau Monde Graphite (NYSE:NMG) announced its earnings results on Wednesday. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.06, Zacks reports.

Nouveau Monde Graphite Stock Up 1.4%

Shares of NYSE:NMG traded up $0.03 during trading on Friday, hitting $1.90. 1,086,049 shares of the company were exchanged, compared to its average volume of 1,058,918. The stock has a market cap of $304.93 million, a price-to-earnings ratio of -4.23 and a beta of 0.78. Nouveau Monde Graphite has a fifty-two week low of $1.60 and a fifty-two week high of $6.06. The firm has a fifty day moving average price of $2.15 and a two-hundred day moving average price of $2.49. The company has a current ratio of 0.75, a quick ratio of 0.87 and a debt-to-equity ratio of 0.02.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. XTX Topco Ltd boosted its stake 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 period. Banque Cantonale Vaudoise bought a new stake in Nouveau Monde Graphite in the 3rd quarter valued at $58,000. Susquehanna International Group LLP bought a new stake in Nouveau Monde Graphite in the 3rd quarter valued at $96,000. Royal Bank of Canada boosted its stake in Nouveau Monde Graphite by 36.7% in the 4th quarter. Royal Bank of Canada now owns 68,298 shares of the company’s stock valued at $170,000 after purchasing an additional 18,329 shares during the period. Finally, Millennium Management LLC bought a new stake in Nouveau Monde Graphite in the 3rd quarter valued at $196,000. 41.09% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Maxim Group assumed coverage on Nouveau Monde Graphite in a report on Tuesday, January 20th. They set a “buy” rating and a $6.00 target price on the stock. HC Wainwright cut their price objective on Nouveau Monde Graphite from $7.50 to $5.50 and set a “buy” rating on the stock in a report on Friday, January 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nouveau Monde Graphite in a report on Thursday, January 22nd. Finally, National Bank Financial upgraded Nouveau Monde Graphite to a “strong-buy” rating in a report on Friday, April 17th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $5.40.

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.