Nouveau Monde Graphite (NYSE:NMG) Stock Bumped Up to “Hold” by Wall Street Zen

by · The Cerbat Gem

Wall Street Zen upgraded shares of Nouveau Monde Graphite (NYSE:NMG – Free Report) from a sell rating to a hold rating in a research report report published on Saturday morning,Wall Street Zen reports.

Several other brokerages have also weighed in on NMG. Jefferies Financial Group initiated coverage on Nouveau Monde Graphite in a research report on Wednesday, September 2nd. They issued a “buy” rating and a C$2.45 target price on the stock. Zacks Research raised shares of Nouveau Monde Graphite from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 25th. Freedom Broker began coverage on shares of Nouveau Monde Graphite in a report on Thursday, October 1st. They set a “hold” rating and a $1.48 price target for the company. HC Wainwright restated a “buy” rating and set a $4.50 price target on shares of Nouveau Monde Graphite in a research report on Monday, August 24th. Finally, Weiss Ratings cut shares of Nouveau Monde Graphite from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, October 12th. Three investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $3.87.

Get Our Latest Analysis on Nouveau Monde Graphite

Nouveau Monde Graphite Stock Performance

Shares of NMG opened at $0.94 on Friday. Nouveau Monde Graphite has a one year low of $0.87 and a one year high of $3.60. The stock has a 50-day moving average price of $1.26 and a 200 day moving average price of $1.55. The company has a market capitalization of $310.72 million, a P/E ratio of -2.95 and a beta of 0.84.

Nouveau Monde Graphite (NYSE:NMG – Get Free Report) last posted its quarterly earnings data on Wednesday, August 12th. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.06. As a group, equities research analysts forecast that Nouveau Monde Graphite will post -0.11 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nouveau Monde Graphite

Several large investors have recently made changes to their positions in NMG. Renaissance Technologies LLC grew its holdings in Nouveau Monde Graphite by 1,185.2% during the first quarter. Renaissance Technologies LLC now owns 1,433,023 shares of the company’s stock valued at $3,210,000 after purchasing an additional 1,321,523 shares during the last quarter. Brooklands Fund Management Ltd lifted its stake in shares of Nouveau Monde Graphite by 88.6% in the first quarter. Brooklands Fund Management Ltd now owns 120,000 shares of the company’s stock worth $269,000 after buying an additional 56,384 shares during the last quarter. Banque Cantonale Vaudoise lifted its stake in shares of Nouveau Monde Graphite by 119.7% in the first quarter. Banque Cantonale Vaudoise now owns 116,000 shares of the company’s stock worth $260,000 after buying an additional 63,200 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Nouveau Monde Graphite by 5,215.1% during the 1st quarter. Bank of America Corp DE now owns 89,826 shares of the company’s stock worth $201,000 after buying an additional 88,136 shares during the period. Finally, AXQ Capital LP boosted its holdings in shares of Nouveau Monde Graphite by 19.4% during the 2nd quarter. AXQ Capital LP now owns 56,985 shares of the company’s stock worth $85,000 after buying an additional 9,242 shares during the period. Institutional investors own 41.09% of the company’s stock.

Nouveau Monde Graphite Company Profile

(Get Free Report)

Nouveau Monde Graphite Inc is a Canadian company developing an integrated source of natural graphite and battery-anode material in Quebec. The company is focused on supplying graphite products for lithium-ion batteries used in electric vehicles, energy-storage systems and other clean-technology applications.

Nouveau Monde’s principal assets include the Matawinie graphite project, an open-pit mine and concentrator planned near Saint-Michel-des-Saints, Quebec, and a battery-materials plant in Bécancour, Quebec.

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