Nouveau Monde Graphite (CVE:NOU) Upgraded by National Bankshares to “Outperform” Rating

Nouveau Monde Graphite (CVE:NOU) was upgraded by stock analysts at National Bankshares from a “sector perform” rating to an “outperform” rating in a research note issued on Tuesday,BayStreet.CA reports. The firm currently has a C$5.00 target price on the stock, up from their prior target price of C$3.50. National Bankshares’ price target indicates a potential upside of 54.32% from the stock’s current price.

Separately, National Bank Financial upgraded Nouveau Monde Graphite to a “hold” rating in a research note on Thursday, September 11th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Nouveau Monde Graphite has an average rating of “Moderate Buy” and a consensus target price of C$5.00.

Nouveau Monde Graphite Stock Performance

Shares of NOU stock traded up C$0.17 during midday trading on Tuesday, hitting C$3.24. The company had a trading volume of 108,430 shares, compared to its average volume of 83,890. The company’s 50 day simple moving average is C$3.24 and its 200 day simple moving average is C$3.24. Nouveau Monde Graphite has a 52-week low of C$1.70 and a 52-week high of C$4.14. The stock has a market cap of C$493.33 million, a price-to-earnings ratio of -5.40 and a beta of 1.82. The company has a debt-to-equity ratio of 16.18, a current ratio of 1.74 and a quick ratio of 1.29.

Nouveau Monde Graphite Company Profile

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.