Nouveau Monde Graphite (CVE:NOU) Upgraded to “Strong-Buy” at Maxim Group

Maxim Group upgraded shares of Nouveau Monde Graphite (CVE:NOU) to a strong-buy rating in a report released on Tuesday morning,Zacks.com reports.

Other equities research analysts have also recently issued reports about the stock. BMO Capital Markets set a C$6.00 target price on shares of Nouveau Monde Graphite and gave the stock an “outperform” rating in a research report on Friday, December 12th. National Bankshares raised shares of Nouveau Monde Graphite from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from C$3.50 to C$5.00 in a research note on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Nouveau Monde Graphite presently has an average rating of “Buy” and an average price target of C$5.50.

Nouveau Monde Graphite Price Performance

Shares of Nouveau Monde Graphite stock opened at C$3.24 on Tuesday. The business has a 50 day moving average of C$3.24 and a 200 day moving average of C$3.24. Nouveau Monde Graphite has a 52 week low of C$1.70 and a 52 week high of C$4.14. The company has a market cap of C$493.33 million, a PE ratio of -5.40 and a beta of 1.82. The company has a quick ratio of 1.29, a current ratio of 1.74 and a debt-to-equity ratio of 16.18.

About Nouveau Monde Graphite

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.