Nouveau Monde Graphite Inc. (CVE:NOU – Get Free Report) shot up 5.5% during trading on Monday. The stock traded as high as C$3.40 and last traded at C$3.24. Approximately 108,430 shares changed hands during 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
A number of equities research analysts recently commented on the stock. National Bank Financial decreased their target price on shares of Nouveau Monde Graphite from C$4.00 to C$3.50 and set an “outperform” rating for the company in a research report on Monday, October 19th. Jefferies Financial Group upgraded shares of Nouveau Monde Graphite to a “strong-buy” rating in a research note on Wednesday, September 2nd. Two research analysts have rated the stock with a Strong Buy rating and two have given a Buy rating to the company. According to data from MarketBeat.com, Nouveau Monde Graphite currently has an average rating of “Strong Buy” and an average price target of C$4.75.
Get Our Latest Report on Nouveau Monde Graphite
Nouveau Monde Graphite Trading Up 5.5%
The company has a 50 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 PE ratio of -5.40 and a beta of 1.82. The company has a debt-to-equity ratio of 105.58, a quick ratio of 1.29 and a current ratio of 3.58.
About Nouveau Monde Graphite
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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