Jefferies Financial Group upgraded shares of Nouveau Monde Graphite (NYSE:NMG – Free Report) to a strong-buy rating in a research report sent to investors on Wednesday, Marketbeat reports.
A number of other equities research analysts also recently weighed in on NMG. Wall Street Zen upgraded Nouveau Monde Graphite from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Weiss Ratings upgraded Nouveau Monde Graphite from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 18th. Zacks Research raised shares of Nouveau Monde Graphite from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 25th. HC Wainwright reiterated a “buy” rating and issued a $4.50 price objective on shares of Nouveau Monde Graphite in a research note on Monday, August 24th. Finally, Roth Capital set a $3.50 target price on shares of Nouveau Monde Graphite in a research report on Monday, May 18th. Four investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Nouveau Monde Graphite has an average rating of “Buy” and an average price target of $4.67.
Read Our Latest Analysis on NMG
Nouveau Monde Graphite Trading Up 1.8%
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. Equities research analysts forecast that Nouveau Monde Graphite will post -0.11 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the company. AXQ Capital LP grew its stake in 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 acquiring an additional 9,242 shares during the period. Intrepid Family Office LLC bought a new position in shares of Nouveau Monde Graphite in the 4th quarter worth $25,000. XTX Topco Ltd lifted its holdings in shares of Nouveau Monde Graphite by 100.8% in the 2nd quarter. XTX Topco Ltd now owns 25,522 shares of the company’s stock worth $42,000 after purchasing an additional 12,811 shares in the last quarter. Royal Bank of Canada grew its position in Nouveau Monde Graphite by 36.7% in the 4th quarter. Royal Bank of Canada now owns 68,298 shares of the company’s stock valued at $170,000 after purchasing an additional 18,329 shares during the period. Finally, CWM LLC acquired a new stake in Nouveau Monde Graphite in the 4th quarter valued at $46,000. 41.09% of the stock is owned by institutional investors and hedge funds.
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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