Nouveau Monde Graphite Inc. (NYSE:NMG) Given Average Recommendation of “Moderate Buy” by Analysts

Nouveau Monde Graphite Inc. (NYSE:NMG) has earned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $5.40.

A number of research analysts recently weighed in on NMG shares. Zacks Research raised Nouveau Monde Graphite from a “strong sell” rating to a “hold” rating in a research report on Monday, December 15th. BMO Capital Markets started coverage on Nouveau Monde Graphite in a report on Friday, December 12th. They set an “outperform” rating for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nouveau Monde Graphite in a research report on Thursday, January 22nd. Maxim Group assumed coverage on shares of Nouveau Monde Graphite in a research note on Tuesday, January 20th. They issued a “buy” rating and a $6.00 price target on the stock. Finally, HC Wainwright cut their price objective on shares of Nouveau Monde Graphite from $7.50 to $5.50 and set a “buy” rating on the stock in a research report on Friday, January 30th.

Nouveau Monde Graphite Price Performance

Shares of NYSE NMG opened at $2.05 on Friday. The company has a 50 day simple moving average of $2.45 and a two-hundred day simple moving average of $2.64. Nouveau Monde Graphite has a fifty-two week low of $1.30 and a fifty-two week high of $6.06. The company has a market capitalization of $328.90 million, a price-to-earnings ratio of -3.10 and a beta of 0.87. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.62 and a current ratio of 0.62.

Institutional Investors Weigh In On Nouveau Monde Graphite

Institutional investors have recently made changes to their positions in the company. Intrepid Family Office LLC purchased a new position in Nouveau Monde Graphite in the 4th quarter worth approximately $25,000. XTX Topco Ltd boosted its stake in Nouveau Monde Graphite by 100.8% during the 2nd quarter. XTX Topco Ltd now owns 25,522 shares of the company’s stock valued at $42,000 after purchasing an additional 12,811 shares during the last quarter. Royal Bank of Canada increased its holdings in shares of Nouveau Monde Graphite by 36.7% in 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. CWM LLC bought a new stake in shares of Nouveau Monde Graphite in the 4th quarter worth $46,000. Finally, Banque Cantonale Vaudoise purchased a new position in shares of Nouveau Monde Graphite in the third quarter worth $58,000. Hedge funds and other institutional investors 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.