Nouveau Monde Graphite (NYSE:NMG) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Nouveau Monde Graphite (NYSE:NMG) from a sell rating to a hold rating in a research note issued to investors on Saturday,Wall Street Zen reports.

Other equities analysts have also recently issued reports about the stock. HC Wainwright reissued a “buy” rating and issued a $4.50 target price on shares of Nouveau Monde Graphite in a research note on Monday, August 24th. Weiss Ratings lowered shares of Nouveau Monde Graphite from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, October 12th. Freedom Broker began coverage on shares of Nouveau Monde Graphite in a research note on Thursday, October 1st. They issued a “hold” rating and a $1.48 price target for the company. 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. Finally, Jefferies Financial Group began coverage on shares of Nouveau Monde Graphite in a research report on Wednesday, September 2nd. They issued a “buy” rating and a C$2.45 price objective for the company. Three equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $3.87.

Nouveau Monde Graphite Stock Performance

NMG opened at $0.93 on Friday. The business’s 50-day simple moving average is $1.25 and its 200 day simple moving average is $1.81. Nouveau Monde Graphite has a 52-week low of $0.87 and a 52-week high of $3.60. The firm has a market capitalization of $304.80 million, a PE ratio of -2.89 and a beta of 0.84.

Nouveau Monde Graphite (NYSE:NMG) last posted its quarterly earnings results on Wednesday, August 12th. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.06. On average, research analysts forecast that Nouveau Monde Graphite will post -0.11 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC raised its stake in Nouveau Monde Graphite by 1,185.2% in the 1st quarter. Renaissance Technologies LLC now owns 1,433,023 shares of the company’s stock valued at $3,210,000 after acquiring an additional 1,321,523 shares during the period. Bank of America Corp DE raised its position in shares of Nouveau Monde Graphite by 5,215.1% in the first quarter. Bank of America Corp DE now owns 89,826 shares of the company’s stock valued at $201,000 after purchasing an additional 88,136 shares during the period. Banque Cantonale Vaudoise raised its position in shares of Nouveau Monde Graphite by 119.7% in the first quarter. Banque Cantonale Vaudoise now owns 116,000 shares of the company’s stock valued at $260,000 after purchasing an additional 63,200 shares during the period. Brooklands Fund Management Ltd raised its position in shares of Nouveau Monde Graphite by 88.6% in the first quarter. Brooklands Fund Management Ltd now owns 120,000 shares of the company’s stock valued at $269,000 after purchasing an additional 56,384 shares during the period. Finally, Pacifica Partners Inc. acquired a new stake in shares of Nouveau Monde Graphite during the 2nd quarter worth about $47,000. 41.09% of the stock is owned by institutional investors and hedge funds.

Nouveau Monde Graphite Company Profile

Nouveau Monde Graphite Inc is a Canadian company developing an integrated source of natural graphite and battery-anode material in Quebec. The company is focused on supplying graphite products for lithium-ion batteries used in electric vehicles, energy-storage systems and other clean-technology applications.

Nouveau Monde’s principal assets include the Matawinie graphite project, an open-pit mine and concentrator planned near Saint-Michel-des-Saints, Quebec, and a battery-materials plant in Bécancour, Quebec.