Nouveau Monde Graphite (CVE:NOU) Trading Up 5.5% – Here’s Why

Nouveau Monde Graphite Inc. (CVE:NOU)’s share price was up 5.5% during trading on Friday . The company traded as high as C$3.40 and last traded at C$3.24. Approximately 108,430 shares changed hands during mid-day trading, an increase of 29% from the average daily volume of 83,890 shares. The stock had previously closed at C$3.07.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on NOU shares. National Bank Financial decreased their target price on shares of Nouveau Monde Graphite from C$4.75 to C$4.50 and set an “outperform” rating for the company in a research note on Friday, April 17th. Maxim Group upgraded shares of Nouveau Monde Graphite to a “strong-buy” rating in a report on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company’s stock. According to data from MarketBeat.com, Nouveau Monde Graphite has an average rating of “Buy” and a consensus price target of C$5.25.

Nouveau Monde Graphite Price Performance

The company has a debt-to-equity ratio of 105.58, a current ratio of 3.58 and a quick ratio of 1.29. The stock has a market cap of C$493.33 million, a P/E ratio of -5.40 and a beta of 1.82. The company’s 50 day simple moving average is C$3.24 and its 200 day simple moving average is C$3.24.

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.