Wall Street Zen cut shares of Nouveau Monde Graphite (NYSE:NMG – Free Report) from a hold rating to a sell rating in a report issued on Saturday morning,Wall Street Zen reports.
A number of other analysts also recently weighed in on the company. Jefferies Financial Group started coverage on Nouveau Monde Graphite in a report on Wednesday, September 2nd. They set a “buy” rating and a C$2.45 price target for the company. HC Wainwright restated a “buy” rating and set a $4.50 target price on shares of Nouveau Monde Graphite in a research report on Monday, August 24th. Zacks Research raised Nouveau Monde Graphite from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 25th. Freedom Broker assumed coverage on Nouveau Monde Graphite in a report on Thursday, October 1st. They issued a “hold” rating and a $1.48 target price for the company. Finally, Weiss Ratings raised Nouveau Monde Graphite from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, September 22nd. Three analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Nouveau Monde Graphite has a consensus rating of “Buy” and an average price target of $3.87.
Read Our Latest Research Report on Nouveau Monde Graphite
Nouveau Monde Graphite Stock Performance
Nouveau Monde Graphite (NYSE:NMG – Get Free Report) last posted its quarterly earnings data on Wednesday, August 12th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.06. Research analysts predict that Nouveau Monde Graphite will post -0.11 EPS for the current year.
Institutional Investors Weigh In On Nouveau Monde Graphite
A number of hedge funds have recently added to or reduced their stakes in the company. Intrepid Family Office LLC bought a new stake in shares of Nouveau Monde Graphite during the fourth quarter valued at approximately $25,000. Pacifica Partners Inc. acquired a new position in Nouveau Monde Graphite during the second quarter worth $47,000. AXQ Capital LP raised its holdings in Nouveau Monde Graphite by 19.4% during the second 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 last quarter. Brooklands Fund Management Ltd bought a new position in shares of Nouveau Monde Graphite in the fourth quarter valued at $149,000. Finally, Bank of America Corp DE lifted its stake in shares of Nouveau Monde Graphite by 5,215.1% in the first quarter. Bank of America Corp DE now owns 89,826 shares of the company’s stock valued at $201,000 after buying an additional 88,136 shares in the last quarter. Institutional investors and hedge funds own 41.09% of the company’s stock.
Nouveau Monde Graphite Company Profile
Nouveau Monde Graphite Inc is a Canadian mining and advanced materials company developing an integrated source of graphite for the lithium-ion battery industry. The company is focused on producing graphite concentrate and value-added anode material for use in electric vehicles, energy-storage systems and other clean-technology applications.
Nouveau Monde’s principal asset is the Matawinie graphite project near Saint-Michel-des-Saints, Quebec. The company is also developing a battery materials plant in Bécancour, Quebec, designed to process graphite concentrate into anode material, including purified, coated spherical graphite.
Featured Articles
- Five stocks we like better than Nouveau Monde Graphite
- NVIDIA’s Record High Raises a Bigger Question About How Far the Rally Can Run
- A Manufacturing Surprise Could Be a Big Win for These 2 Companies
- What a $1 Billion Chip Deal Says About Amazon’s AI Ambitions
- 3 Stocks Benefiting From AI Demand Just Announced Major Buybacks
Receive News & Ratings for Nouveau Monde Graphite Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nouveau Monde Graphite and related companies with MarketBeat.com's FREE daily email newsletter.
