Analysts Set Nouveau Monde Graphite Inc. (NYSE:NMG) Price Target at $5.40

Nouveau Monde Graphite Inc. (NYSE:NMG) has been assigned an average rating of “Moderate Buy” from the seven brokerages that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $5.40.

A number of equities analysts recently weighed in on NMG shares. Wall Street Zen cut Nouveau Monde Graphite to a “strong sell” rating in a research note on Saturday, November 1st. Zacks Research upgraded shares of Nouveau Monde Graphite from a “strong sell” rating to a “hold” rating in a report on Monday, December 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Nouveau Monde Graphite in a report on Thursday, January 22nd. Maxim Group initiated coverage on shares of Nouveau Monde Graphite in a research report on Tuesday, January 20th. They issued a “buy” rating and a $6.00 price target for the company. Finally, BMO Capital Markets started coverage on shares of Nouveau Monde Graphite in a research report on Friday, December 12th. They set an “outperform” rating on the stock.

Nouveau Monde Graphite Price Performance

Shares of NYSE:NMG opened at $2.17 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.62 and a current ratio of 0.62. The company has a market capitalization of $348.20 million, a PE ratio of -3.28 and a beta of 0.87. The stock has a fifty day moving average of $2.63 and a 200-day moving average of $2.61. Nouveau Monde Graphite has a one year low of $1.30 and a one year high of $6.06.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NMG. Goldman Sachs Group Inc. grew its stake in Nouveau Monde Graphite by 217.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 128,462 shares of the company’s stock valued at $319,000 after acquiring an additional 87,971 shares in the last quarter. Millennium Management LLC acquired a new stake in shares of Nouveau Monde Graphite during the third quarter worth approximately $196,000. Financial Sense Advisors Inc. purchased a new position in Nouveau Monde Graphite during the third quarter valued at approximately $256,000. Royal Bank of Canada increased 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 buying an additional 18,329 shares during the period. Finally, Susquehanna International Group LLP acquired a new position in Nouveau Monde Graphite in the 3rd quarter valued at approximately $96,000. 41.09% of the stock is owned by institutional investors and hedge funds.

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.