Nouveau Monde Graphite (NYSE:NMG) Downgraded to Hold Rating by Zacks Research

Nouveau Monde Graphite (NYSE:NMG) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other analysts have also issued reports on NMG. National Bank Financial upgraded Nouveau Monde Graphite to a “strong-buy” rating in a report on Friday, April 17th. Wall Street Zen downgraded Nouveau Monde Graphite from a “hold” rating to a “sell” rating in a report on Monday, June 29th. HC Wainwright lowered their target price on Nouveau Monde Graphite from $5.50 to $4.50 and set a “buy” rating for the company in a report on Thursday, May 21st. Roth Capital set a $3.50 price target on Nouveau Monde Graphite in a research note on Monday, May 18th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Nouveau Monde Graphite in a research note on Monday, July 6th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $4.67.

Nouveau Monde Graphite Stock Up 0.4%

Shares of NMG opened at $1.33 on Monday. The firm has a fifty day moving average price of $1.58 and a 200-day moving average price of $2.05. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $214.71 million, a P/E ratio of -2.97 and a beta of 0.81. Nouveau Monde Graphite has a 12-month low of $1.26 and a 12-month high of $6.06.

Nouveau Monde Graphite (NYSE:NMG) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.06. Equities research analysts expect that Nouveau Monde Graphite will post -0.2 earnings per share for the current year.

Institutional Trading of Nouveau Monde Graphite

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Marshall Wace LLP purchased a new position in shares of Nouveau Monde Graphite in the 4th quarter valued at $380,000. Financial Sense Advisors Inc. purchased a new stake in shares of Nouveau Monde Graphite during the 3rd quarter worth $256,000. Royal Bank of Canada lifted its stake in shares of Nouveau Monde Graphite by 36.7% during the 4th quarter. Royal Bank of Canada now owns 68,298 shares of the company’s stock worth $170,000 after purchasing an additional 18,329 shares during the last quarter. Susquehanna International Group LLP bought a new stake in Nouveau Monde Graphite during the third quarter valued at about $96,000. Finally, Banque Cantonale Vaudoise purchased a new position in Nouveau Monde Graphite in the third quarter valued at about $58,000. Institutional investors own 41.09% of the company’s stock.

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.