Nouveau Monde Graphite (CVE:NOU) Stock Price Up 5.5% – Time to Buy?

Nouveau Monde Graphite Inc. (CVE:NOU – Get Free Report) shares were up 5.5% during mid-day trading on Wednesday . The stock traded as high as C$3.40 and last traded at C$3.24. Approximately 108,430 shares were traded during mid-day trading, an increase of 29% from the average session volume of 83,890 shares. The stock had previously closed at C$3.07.

Wall Street Analysts Forecast Growth

Separately, National Bank Financial reduced their price objective on shares of Nouveau Monde Graphite from C$4.75 to C$4.50 and set an “outperform” rating on the stock in a research note on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to MarketBeat.com, Nouveau Monde Graphite presently has a consensus rating of “Buy” and an average target price of C$5.25.

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Nouveau Monde Graphite Stock Performance

The company has a fifty day moving average of C$3.24 and a two-hundred day moving average of C$3.24. The stock has a market capitalization of C$493.33 million, a P/E ratio of -5.40 and a beta of 1.82. The company has a debt-to-equity ratio of 105.58, a current ratio of 3.58 and a quick ratio of 1.29.

About Nouveau Monde Graphite

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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. It also involved in the real estate and trading activities. The company was formerly known as Nouveau Monde Mining Enterprises Inc and changed its name to Nouveau Monde Graphite Inc in February 2017.

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