National Bank Financial Issues Pessimistic Forecast for Nouveau Monde Graphite (CVE:NOU) Stock Price

Nouveau Monde Graphite (CVE:NOU) had its price objective decreased by analysts at National Bank Financial from C$4.00 to C$3.50 in a research note issued to investors on Monday, BayStreet reports. The firm currently has an “outperform” rating on the stock. National Bank Financial’s target price suggests a potential upside of 8.02% from the stock’s current price.

Separately, Jefferies Financial Group raised Nouveau Monde Graphite to a “strong-buy” rating in a research report on Wednesday, September 2nd. Two research analysts have rated the stock with a Strong Buy rating and two have given a Buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Strong Buy” and an average price target of C$4.75.

Nouveau Monde Graphite Trading Up 5.5%

CVE:NOU traded up C$0.17 on Monday, reaching C$3.24. 108,430 shares of the stock traded hands, compared to its average volume of 83,890. The firm has a market capitalization of C$493.33 million, a price-to-earnings ratio of -5.40 and a beta of 1.82. The company’s 50 day moving average is C$3.24 and its 200-day moving average is C$3.24. The company has a current ratio of 3.58, a quick ratio of 1.29 and a debt-to-equity ratio of 105.58. Nouveau Monde Graphite has a 1-year low of C$1.70 and a 1-year high of C$4.14.

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.