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

Shares of Nouveau Monde Graphite Inc. (CVE:NOU) were up 5.5% during trading on Thursday. The stock traded as high as C$3.40 and last traded at C$3.24. 108,430 shares were traded 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

Separately, Jefferies Financial Group upgraded Nouveau Monde Graphite to a “strong-buy” rating in a research report on Wednesday, September 2nd. Two equities research analysts have rated the stock with a Strong Buy rating and two have given a Buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Strong Buy” and a consensus price target of C$5.25.

Nouveau Monde Graphite Stock Performance

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 has a debt-to-equity ratio of 105.58, a current ratio of 3.58 and a quick ratio of 1.29. The stock has a 50-day simple moving average of C$3.24 and a 200 day simple moving average of C$3.24.

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.