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

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on NOU. National Bank Financial upgraded shares of Nouveau Monde Graphite from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from C$3.50 to C$5.00 in a research report on Tuesday, November 4th. Maxim Group raised shares of Nouveau Monde Graphite to a “strong-buy” rating in a report on Tuesday, January 20th. Finally, BMO Capital Markets set a C$6.00 price target on Nouveau Monde Graphite and gave the stock an “outperform” rating in a research report on Friday, December 12th. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company’s stock. According to MarketBeat.com, Nouveau Monde Graphite has an average rating of “Buy” and an average target price of C$5.50.

Get Our Latest Research Report on Nouveau Monde Graphite

Nouveau Monde Graphite Price Performance

The company has a debt-to-equity ratio of 16.18, a quick ratio of 1.29 and a current ratio of 1.74. The company has a market capitalization of C$493.33 million, a PE 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

(Get Free Report)

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.

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