Nouveau Monde Graphite Inc. (NYSE:NMG) Receives Consensus Rating of “Buy” from Analysts

by · The Markets Daily

Nouveau Monde Graphite Inc. (NYSE:NMG – Get Free Report) has received a consensus recommendation of “Buy” from the eight analysts that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, four have assigned a buy rating and three have assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $4.6667.

Several research analysts recently issued reports on NMG shares. Jefferies Financial Group initiated coverage on Nouveau Monde Graphite in a research report on Wednesday. They set a “buy” rating and a C$2.45 target price on the stock. HC Wainwright reissued a “buy” rating and issued a $4.50 price target on shares of Nouveau Monde Graphite in a research report on Monday, August 24th. Roth Capital set a $3.50 price objective on Nouveau Monde Graphite in a research note on Monday, May 18th. Zacks Research raised shares of Nouveau Monde Graphite from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 25th. Finally, Weiss Ratings lowered shares of Nouveau Monde Graphite from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday.

Read Our Latest Report on NMG

Nouveau Monde Graphite Stock Performance

NMG stock opened at $1.40 on Friday. The company has a market capitalization of $225.16 million, a P/E ratio of -4.37 and a beta of 0.86. Nouveau Monde Graphite has a 52-week low of $1.26 and a 52-week high of $6.06. The business has a 50-day simple moving average of $1.44 and a two-hundred day simple moving average of $1.81.

Nouveau Monde Graphite (NYSE:NMG – Get Free Report) last issued its quarterly earnings data on Wednesday, August 12th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.06. As a group, sell-side 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

A number of institutional investors have recently added to or reduced their stakes in the company. AXQ Capital LP grew its position in Nouveau Monde Graphite by 19.4% in the 2nd quarter. AXQ Capital LP now owns 56,985 shares of the company’s stock worth $85,000 after purchasing an additional 9,242 shares in the last quarter. Pacifica Partners Inc. purchased a new position in shares of Nouveau Monde Graphite in the 2nd quarter worth approximately $47,000. Bank of America Corp DE boosted its stake in shares of Nouveau Monde Graphite by 5,215.1% in 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 last quarter. Renaissance Technologies LLC grew its holdings in shares of Nouveau Monde Graphite by 1,185.2% in the first quarter. Renaissance Technologies LLC now owns 1,433,023 shares of the company’s stock valued at $3,210,000 after acquiring an additional 1,321,523 shares in the last quarter. Finally, Brooklands Fund Management Ltd grew its holdings 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 valued at $269,000 after acquiring an additional 56,384 shares in the last quarter. 41.09% of the stock is owned by institutional investors.

About Nouveau Monde Graphite

(Get Free Report)

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.

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