Nouveau Monde Graphite Inc. (NYSE:NMG) Given Average Rating of “Moderate Buy” by Brokerages

Nouveau Monde Graphite Inc. (NYSE:NMG) has been given an average recommendation of “Moderate Buy” by the seven ratings firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $5.40.

A number of equities analysts have weighed in on the company. BMO Capital Markets started coverage on Nouveau Monde Graphite in a research note on Friday, December 12th. They set an “outperform” rating on the stock. Maxim Group started coverage on Nouveau Monde Graphite in a report on Tuesday, January 20th. They set a “buy” rating and a $6.00 price target on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Nouveau Monde Graphite in a research report on Thursday, January 22nd. Zacks Research upgraded shares of Nouveau Monde Graphite from a “strong sell” rating to a “hold” rating in a research report on Monday, December 15th. Finally, HC Wainwright reduced their target price on shares of Nouveau Monde Graphite from $7.50 to $5.50 and set a “buy” rating on the stock in a research note on Friday, January 30th.

Nouveau Monde Graphite Price Performance

NYSE:NMG opened at $2.16 on Friday. Nouveau Monde Graphite has a one year low of $1.30 and a one year high of $6.06. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.62 and a current ratio of 0.62. The stock has a market cap of $346.59 million, a PE ratio of -3.27 and a beta of 0.87. The stock has a 50 day moving average price of $2.51 and a 200 day moving average price of $2.63.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Intrepid Family Office LLC purchased a new position in Nouveau Monde Graphite in the fourth quarter worth approximately $25,000. XTX Topco Ltd raised its position in Nouveau Monde Graphite by 100.8% in the second quarter. XTX Topco Ltd now owns 25,522 shares of the company’s stock valued at $42,000 after purchasing an additional 12,811 shares during the period. CWM LLC purchased a new stake in Nouveau Monde Graphite in the fourth quarter valued at $46,000. Banque Cantonale Vaudoise acquired a new position in shares of Nouveau Monde Graphite in the 3rd quarter valued at $58,000. Finally, Susquehanna International Group LLP acquired a new position in shares of Nouveau Monde Graphite in the 3rd quarter valued at $96,000. 41.09% of the stock is currently owned by institutional investors and hedge funds.

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.