Nouveau Monde Graphite Inc. (NYSE:NMG – Get Free Report) has been given a consensus recommendation of “Moderate Buy” by the eight analysts that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, three have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $3.87.
NMG has been the subject of a number of recent research reports. Weiss Ratings upgraded Nouveau Monde Graphite from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday. Zacks Research downgraded shares of Nouveau Monde Graphite from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 23rd. HC Wainwright reaffirmed a “buy” rating and issued a $4.50 target price on shares of Nouveau Monde Graphite in a research note on Monday, August 24th. Jefferies Financial Group started coverage on shares of Nouveau Monde Graphite in a research report on Wednesday, September 2nd. They set a “buy” rating and a C$2.45 price target for the company. Finally, Freedom Broker began coverage on shares of Nouveau Monde Graphite in a research note on Thursday, October 1st. They set a “hold” rating and a $1.48 price target for the company.
Check Out Our Latest Research Report on Nouveau Monde Graphite
Nouveau Monde Graphite Stock Down 6.0%
Shares of NMG opened at $0.94 on Monday. Nouveau Monde Graphite has a 12 month low of $0.87 and a 12 month high of $3.60. The company’s fifty day moving average is $1.22 and its 200-day moving average is $1.77. The firm has a market cap of $309.41 million, a price-to-earnings ratio of -2.94 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, topping analysts’ consensus estimates of ($0.03) by $0.06. As a group, research analysts predict that Nouveau Monde Graphite will post -0.11 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the company. Pacifica Partners Inc. acquired a new stake in Nouveau Monde Graphite during the 2nd quarter valued at $47,000. AXQ Capital LP increased its holdings in shares of Nouveau Monde Graphite by 19.4% in the second quarter. AXQ Capital LP now owns 56,985 shares of the company’s stock valued at $85,000 after purchasing an additional 9,242 shares during the last quarter. Bank of America Corp DE lifted its stake 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 last quarter. Banque Cantonale Vaudoise boosted its holdings in shares of Nouveau Monde Graphite by 119.7% during the 1st 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 period. Finally, Brooklands Fund Management Ltd grew its stake in Nouveau Monde Graphite by 88.6% in the 1st quarter. Brooklands Fund Management Ltd now owns 120,000 shares of the company’s stock valued at $269,000 after buying an additional 56,384 shares during the last quarter. Institutional investors own 41.09% of the company’s stock.
Nouveau Monde Graphite Company Profile
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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