Nouveau Monde Graphite (NYSE:NMG) Research Coverage Started at Maxim Group

Maxim Group started coverage on shares of Nouveau Monde Graphite (NYSE:NMG) in a report published on Tuesday morning, Marketbeat.com reports. The firm issued a buy rating and a $6.00 target price on the stock.

Other equities research analysts also recently issued research reports about the stock. Zacks Research upgraded shares of Nouveau Monde Graphite from a “strong sell” rating to a “hold” rating in a research note on Monday, December 15th. BMO Capital Markets started coverage on shares of Nouveau Monde Graphite in a report on Friday, December 12th. They set an “outperform” rating for the company. National Bankshares raised shares of Nouveau Monde Graphite to an “outperform” rating in a research note on Monday, November 3rd. HC Wainwright raised their price objective on shares of Nouveau Monde Graphite from $2.75 to $7.50 and gave the stock a “buy” rating in a report on Wednesday, October 15th. Finally, Wall Street Zen cut shares of Nouveau Monde Graphite to a “strong sell” rating in a research note on Saturday, November 1st. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $6.07.

Nouveau Monde Graphite Trading Up 1.7%

NMG stock opened at $3.05 on Tuesday. Nouveau Monde Graphite has a 1-year low of $1.30 and a 1-year high of $6.06. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.04. The business’s 50 day moving average is $2.82 and its 200-day moving average is $2.53. The firm has a market cap of $490.23 million, a P/E ratio of -4.62 and a beta of 0.87.

Nouveau Monde Graphite (NYSE:NMG) last announced its quarterly earnings results on Wednesday, November 12th. The company reported ($0.06) EPS for the quarter, meeting the consensus estimate of ($0.06). Equities analysts anticipate that Nouveau Monde Graphite will post -0.47 earnings per share for the current fiscal year.

Institutional Trading of Nouveau Monde Graphite

Several hedge funds have recently modified their holdings of the stock. K.J. Harrison & Partners Inc bought a new position in Nouveau Monde Graphite in the 3rd quarter worth approximately $269,000. Financial Sense Advisors Inc. bought a new position in Nouveau Monde Graphite in the 3rd quarter valued at $256,000. Millennium Management LLC acquired a new stake in shares of Nouveau Monde Graphite in the 3rd quarter valued at $196,000. Brookwood Investment Group LLC acquired a new stake in shares of Nouveau Monde Graphite in the 3rd quarter valued at $152,000. Finally, Susquehanna International Group LLP bought a new stake in shares of Nouveau Monde Graphite during the third quarter worth $96,000. 41.09% of the stock is owned by institutional investors.

Nouveau Monde Graphite Company Profile

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.