Nouveau Monde Graphite Inc. (NYSE:NMG) Receives $5.40 Consensus PT from Brokerages

Nouveau Monde Graphite Inc. (NYSE:NMG) has received an average recommendation of “Moderate Buy” from the seven analysts that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, three have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $5.40.

Several brokerages recently commented on NMG. National Bank Financial raised Nouveau Monde Graphite to a “strong-buy” rating in a research note on Friday, April 17th. HC Wainwright reduced their target price on shares of Nouveau Monde Graphite from $7.50 to $5.50 and set a “buy” rating for the company in a research note on Friday, January 30th. Maxim Group initiated coverage on shares of Nouveau Monde Graphite in a research report on Tuesday, January 20th. They issued a “buy” rating and a $6.00 target price for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Nouveau Monde Graphite in a research note on Thursday, January 22nd.

Nouveau Monde Graphite Trading Down 0.2%

Shares of NYSE:NMG opened at $2.06 on Monday. The firm has a fifty day moving average of $2.18 and a two-hundred day moving average of $2.52. The firm has a market capitalization of $330.50 million, a P/E ratio of -4.19 and a beta of 0.78. Nouveau Monde Graphite has a 12-month low of $1.60 and a 12-month high of $6.06. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.02.

Nouveau Monde Graphite (NYSE:NMG) last posted its quarterly earnings results on Wednesday, March 25th. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.10. On average, equities analysts expect that Nouveau Monde Graphite will post -0.33 EPS for the current fiscal year.

Hedge Funds Weigh In On Nouveau Monde Graphite

Several hedge funds have recently bought and sold shares of the business. Intrepid Family Office LLC bought a new stake in shares of Nouveau Monde Graphite during the 4th quarter worth about $25,000. XTX Topco Ltd boosted its holdings in shares of Nouveau Monde Graphite by 100.8% during the 2nd quarter. XTX Topco Ltd now owns 25,522 shares of the company’s stock worth $42,000 after buying an additional 12,811 shares during the period. Royal Bank of Canada grew its stake in Nouveau Monde Graphite by 36.7% in the 4th quarter. Royal Bank of Canada now owns 68,298 shares of the company’s stock valued at $170,000 after buying an additional 18,329 shares during the last quarter. CWM LLC acquired a new position in Nouveau Monde Graphite in the 4th quarter valued at $46,000. Finally, Banque Cantonale Vaudoise bought a new position in Nouveau Monde Graphite in the 3rd quarter worth $58,000. 41.09% of the stock is owned by institutional investors and hedge funds.

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.