General Motors Holdings LLC Makes New $15 Million Investment in Nouveau Monde Graphite Inc. $NMG

General Motors Holdings LLC purchased a new position in Nouveau Monde Graphite Inc. (NYSE:NMG) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 12,500,000 shares of the company’s stock, valued at approximately $15,000,000. Nouveau Monde Graphite accounts for approximately 26.5% of General Motors Holdings LLC’s portfolio, making the stock its 2nd largest position. General Motors Holdings LLC owned approximately 3.80% of Nouveau Monde Graphite at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in NMG. StoneX Group Inc. purchased a new stake in Nouveau Monde Graphite during the 3rd quarter worth about $57,000. Alps Advisors Inc. bought a new position in Nouveau Monde Graphite in the 3rd quarter worth about $338,000. AXQ Capital LP grew its holdings in Nouveau Monde Graphite by 19.4% during the 2nd quarter. AXQ Capital LP now owns 56,985 shares of the company’s stock valued at $85,000 after buying an additional 9,242 shares in the last quarter. Pacifica Partners Inc. purchased a new position in Nouveau Monde Graphite during the 2nd quarter valued at about $47,000. Finally, Bank of America Corp DE grew its holdings in Nouveau Monde Graphite by 5,215.1% during the 1st quarter. Bank of America Corp DE now owns 89,826 shares of the company’s stock valued at $201,000 after buying an additional 88,136 shares in the last quarter. 41.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on NMG shares. Zacks Research cut Nouveau Monde Graphite from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 23rd. Wall Street Zen upgraded shares of Nouveau Monde Graphite from a “sell” rating to a “hold” rating in a research report on Saturday, October 24th. Jefferies Financial Group initiated 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. HC Wainwright reaffirmed a “buy” rating and set a $4.50 price objective on shares of Nouveau Monde Graphite in a research note on Monday, August 24th. Finally, Weiss Ratings raised shares of Nouveau Monde Graphite from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, October 27th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Nouveau Monde Graphite presently has an average rating of “Moderate Buy” and a consensus price target of $3.87.

Nouveau Monde Graphite Stock Performance

Shares of NMG stock opened at $0.80 on Thursday. Nouveau Monde Graphite Inc. has a 52-week low of $0.75 and a 52-week high of $3.59. The company has a market capitalization of $264.31 million, a PE ratio of -2.51 and a beta of 0.65. The business’s fifty day moving average is $1.12 and its 200 day moving average is $1.68.

Nouveau Monde Graphite (NYSE:NMG) last posted its earnings results on Wednesday, August 12th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.06. On average, sell-side analysts forecast that Nouveau Monde Graphite Inc. will post -0.11 EPS for the current fiscal year.

Nouveau Monde Graphite Company Profile

Nouveau Monde Graphite is a Canadian company developing an integrated natural graphite business focused on supplying materials for electric-vehicle batteries and energy storage systems. Its planned activities span graphite mining, processing and the production of battery anode materials. The company’s key projects are in Quebec: the Matawinie graphite project near Saint-Michel-des-Saints and a proposed battery-materials facility in Bécancour. Nouveau Monde Graphite is developing these projects to serve North American customers and support regional battery supply chains.