Nouveau Monde Graphite (NYSE:NMG) Releases Earnings Results, Beats Estimates By $0.03 EPS

Nouveau Monde Graphite (NYSE:NMG) issued its earnings results on Thursday. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.03, Zacks reports.

Nouveau Monde Graphite Stock Down 1.6%

Shares of NYSE:NMG traded down $0.01 during mid-day trading on Thursday, hitting $0.78. 345,343 shares of the company traded hands, compared to its average volume of 385,986. The stock has a 50-day moving average price of $1.12 and a two-hundred day moving average price of $1.68. Nouveau Monde Graphite has a 12-month low of $0.75 and a 12-month high of $3.59.

Analyst Ratings Changes

A number of analysts have commented on NMG shares. Wall Street Zen upgraded shares of Nouveau Monde Graphite from a “sell” rating to a “hold” rating in a research note on Saturday, October 24th. HC Wainwright reiterated a “buy” rating and set a $4.50 price objective on shares of Nouveau Monde Graphite in a report on Monday, August 24th. Freedom Broker assumed coverage on shares of Nouveau Monde Graphite in a research report on Thursday, October 1st. They set a “hold” rating and a $1.48 target price for the company. Jefferies Financial Group assumed coverage on shares of Nouveau Monde Graphite in a research report on Wednesday, September 2nd. They set a “buy” rating and a C$2.45 target price for the company. Finally, Zacks Research lowered shares of Nouveau Monde Graphite from a “strong-buy” rating to a “hold” rating in a report on Friday, October 23rd. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $3.87.

Nouveau Monde Graphite Company Profile

Nouveau Monde Graphite is a Canadian company developing an integrated natural graphite business focused on supplying materials for electric-vehicle batteries and energy storage systems. Its planned activities span graphite mining, processing and the production of battery anode materials. The company’s key projects are in Quebec: the Matawinie graphite project near Saint-Michel-des-Saints and a proposed battery-materials facility in Bécancour. Nouveau Monde Graphite is developing these projects to serve North American customers and support regional battery supply chains.