Nouveau Monde Graphite (CVE:NOU) Trading 5.5% Higher – Time to Buy?

Nouveau Monde Graphite Inc. (CVE:NOU)’s stock price shot up 5.5% on Monday . The stock traded as high as C$3.40 and last traded at C$3.24. 108,430 shares traded 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.

Analyst Ratings Changes

NOU has been the topic of a number of research analyst reports. Maxim Group upgraded shares of Nouveau Monde Graphite to a “strong-buy” rating in a report on Tuesday, January 20th. BMO Capital Markets set a C$6.00 price objective on shares of Nouveau Monde Graphite and gave the company an “outperform” rating in a research report on Friday, December 12th. Finally, National Bank Financial dropped their target price on shares of Nouveau Monde Graphite from C$5.25 to C$4.75 and set an “outperform” rating on the stock in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of C$5.38.

Nouveau Monde Graphite Trading Up 5.5%

The firm has a market capitalization of C$493.33 million, a P/E ratio of -5.40 and a beta of 1.82. The stock has a 50-day simple moving average of C$3.24 and a two-hundred day simple moving average of C$3.24. The company has a current ratio of 3.58, a quick ratio of 1.29 and a debt-to-equity ratio of 105.58.

Nouveau Monde Graphite Company Profile

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.