Nouveau Monde Graphite (NYSE:NMG – Get Free Report) posted its quarterly earnings data on Tuesday. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.09, Zacks reports.
Nouveau Monde Graphite Stock Up 0.3%
NMG traded up $0.01 on Wednesday, hitting $1.97. 366,238 shares of the company were exchanged, compared to its average volume of 1,051,872. Nouveau Monde Graphite has a twelve month low of $1.60 and a twelve month high of $6.06. The company has a market cap of $316.03 million, a price-to-earnings ratio of -4.01 and a beta of 0.78. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.02. The firm has a 50-day moving average price of $2.16 and a two-hundred day moving average price of $2.50.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on the company. National Bank Financial upgraded Nouveau Monde Graphite to a “strong-buy” rating in a report on Friday, April 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Nouveau Monde Graphite in a research report on Thursday, January 22nd. HC Wainwright lowered their price objective on shares of Nouveau Monde Graphite from $7.50 to $5.50 and set a “buy” rating for the company in a research note on Friday, January 30th. Finally, Maxim Group started coverage on shares of Nouveau Monde Graphite in a report on Tuesday, January 20th. They issued a “buy” rating and a $6.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $5.40.
Hedge Funds Weigh In On Nouveau Monde Graphite
Hedge funds and other institutional investors have recently made changes to their positions in the stock. XTX Topco Ltd grew its position in shares of Nouveau Monde Graphite by 100.8% during the second quarter. XTX Topco Ltd now owns 25,522 shares of the company’s stock worth $42,000 after buying an additional 12,811 shares in the last quarter. Banque Cantonale Vaudoise acquired a new stake in Nouveau Monde Graphite in the third quarter valued at approximately $58,000. Financial Sense Advisors Inc. acquired a new stake in Nouveau Monde Graphite in the third quarter valued at approximately $256,000. Millennium Management LLC purchased a new position in Nouveau Monde Graphite in the third quarter worth approximately $196,000. Finally, Susquehanna International Group LLP acquired a new position in Nouveau Monde Graphite during the 3rd quarter worth approximately $96,000. Hedge funds and other institutional investors own 41.09% of the company’s stock.
About Nouveau Monde Graphite
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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