Nouveau Monde Graphite (NYSE:NMG) Stock Rating Upgraded by Wall Street Zen

Nouveau Monde Graphite (NYSE:NMG) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

Other research analysts also recently issued reports about the company. Zacks Research downgraded Nouveau Monde Graphite from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Nouveau Monde Graphite in a research note on Monday, July 6th. HC Wainwright reduced their target price on Nouveau Monde Graphite from $5.50 to $4.50 and set a “buy” rating on the stock in a report on Thursday, May 21st. Roth Capital set a $3.50 target price on Nouveau Monde Graphite in a report on Monday, May 18th. Finally, National Bank Financial raised shares of Nouveau Monde Graphite to a “strong-buy” rating in a research report on Friday, April 17th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Nouveau Monde Graphite presently has an average rating of “Moderate Buy” and a consensus target price of $4.67.

Nouveau Monde Graphite Stock Performance

NMG stock opened at $1.47 on Friday. The company has a market capitalization of $235.62 million, a P/E ratio of -4.58 and a beta of 0.83. The company has a fifty day moving average price of $1.45 and a 200-day moving average price of $1.90. Nouveau Monde Graphite has a 52-week low of $1.26 and a 52-week high of $6.06.

Nouveau Monde Graphite (NYSE:NMG) last issued its quarterly earnings data on Wednesday, August 12th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.06. As a group, sell-side analysts forecast that Nouveau Monde Graphite will post -0.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Intrepid Family Office LLC acquired a new position in shares of Nouveau Monde Graphite in the 4th quarter valued at about $25,000. XTX Topco Ltd grew its stake in Nouveau Monde Graphite by 100.8% during the second quarter. XTX Topco Ltd now owns 25,522 shares of the company’s stock worth $42,000 after purchasing an additional 12,811 shares during the period. CWM LLC acquired a new stake in Nouveau Monde Graphite during the fourth quarter worth approximately $46,000. Banque Cantonale Vaudoise acquired a new stake in Nouveau Monde Graphite during the third quarter worth approximately $58,000. Finally, Susquehanna International Group LLP bought a new stake in Nouveau Monde Graphite in the third quarter worth approximately $96,000. 41.09% of the stock is owned by institutional investors.

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.