HC Wainwright Has Lowered Expectations for Nouveau Monde Graphite (NYSE:NMG) Stock Price

Nouveau Monde Graphite (NYSE:NMG) had its price target decreased by equities researchers at HC Wainwright from $7.50 to $5.50 in a research note issued to investors on Friday, MarketBeat reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price objective would suggest a potential upside of 104.92% from the stock’s current price.

Other analysts also recently issued research reports about the stock. Zacks Research raised shares of Nouveau Monde Graphite from a “strong sell” rating to a “hold” rating in a report on Monday, December 15th. National Bankshares upgraded Nouveau Monde Graphite to an “outperform” rating in a report on Monday, November 3rd. BMO Capital Markets initiated coverage on Nouveau Monde Graphite in a research report on Friday, December 12th. They issued an “outperform” rating on the stock. Wall Street Zen downgraded Nouveau Monde Graphite to a “strong sell” rating in a research note on Saturday, November 1st. Finally, Maxim Group began coverage on Nouveau Monde Graphite in a research report on Tuesday, January 20th. They set a “buy” rating and a $6.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $5.40.

Nouveau Monde Graphite Stock Performance

Shares of NYSE NMG opened at $2.68 on Friday. 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 company has a market capitalization of $431.40 million, a P/E ratio of -4.07 and a beta of 0.87. Nouveau Monde Graphite has a 12 month low of $1.30 and a 12 month high of $6.06. The stock has a 50 day moving average of $2.84 and a 200-day moving average of $2.57.

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

Institutional Trading of Nouveau Monde Graphite

Institutional investors have recently modified their holdings of the stock. CWM LLC acquired a new stake in shares of Nouveau Monde Graphite during the 4th quarter worth $46,000. Banque Cantonale Vaudoise acquired a new position in Nouveau Monde Graphite in the third quarter valued at about $58,000. XTX Topco Ltd lifted its position in Nouveau Monde Graphite by 100.8% during the second quarter. XTX Topco Ltd now owns 25,522 shares of the company’s stock worth $42,000 after purchasing an additional 12,811 shares during the period. Susquehanna International Group LLP acquired a new stake in Nouveau Monde Graphite during the third quarter worth about $96,000. Finally, Brookwood Investment Group LLC bought a new position in Nouveau Monde Graphite in the 3rd quarter valued at about $152,000. 41.09% of the stock is currently 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.