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

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

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group upgraded shares of Nouveau Monde Graphite to a “strong-buy” rating in a report on Wednesday, September 2nd. Two research analysts have rated the stock with a Strong Buy rating and two have issued a Buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Strong Buy” and an average price target of C$5.25.

Nouveau Monde Graphite Trading Up 5.5%

The company has a 50 day moving average of C$3.24 and a two-hundred day moving average of C$3.24. The company has a debt-to-equity ratio of 105.58, a quick ratio of 1.29 and a current ratio of 3.58. The stock has a market capitalization of C$493.33 million, a PE ratio of -5.40 and a beta of 1.82.

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.