Nouveau Monde Graphite (NYSE:NMG) Upgraded to “Strong-Buy” at National Bank Financial

National Bank Financial upgraded shares of Nouveau Monde Graphite (NYSE:NMG) to a strong-buy rating in a research note released on Friday,Zacks.com reports.

A number of other equities analysts have also weighed in on NMG. Maxim Group began 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 objective for the company. HC Wainwright lowered their target price on shares of Nouveau Monde Graphite from $7.50 to $5.50 and set a “buy” rating for the company in a research note on Friday, January 30th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Nouveau Monde Graphite in a research note on Thursday, January 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $5.40.

Nouveau Monde Graphite Stock Up 1.4%

Shares of NYSE:NMG opened at $2.19 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.02. Nouveau Monde Graphite has a 52-week low of $1.58 and a 52-week high of $6.06. The stock’s fifty day simple moving average is $2.20 and its 200-day simple moving average is $2.64. The company has a market capitalization of $352.22 million, a P/E ratio of -4.47 and a beta of 0.84.

Nouveau Monde Graphite (NYSE:NMG) last posted its quarterly earnings data on Wednesday, March 25th. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.10. As a group, equities research analysts forecast that Nouveau Monde Graphite will post -0.47 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nouveau Monde Graphite

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Millennium Management LLC boosted its holdings in shares of Nouveau Monde Graphite by 405.9% in the 4th quarter. Millennium Management LLC now owns 349,950 shares of the company’s stock valued at $868,000 after purchasing an additional 280,771 shares during the last quarter. Intrepid Family Office LLC purchased a new position in shares of Nouveau Monde Graphite in the 4th quarter worth about $25,000. Royal Bank of Canada increased its position in 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 in the last quarter. Brooklands Fund Management Ltd acquired a new stake in Nouveau Monde Graphite during the 4th quarter worth approximately $149,000. Finally, Marshall Wace LLP purchased a new position in Nouveau Monde Graphite in the fourth quarter valued at approximately $380,000. Institutional investors and hedge funds own 41.09% of the company’s stock.

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.