Nouveau Monde Graphite Inc. (NYSE:NMG) Stock Has Average Target Price of $4.67 According to Brokerages

Nouveau Monde Graphite Inc. (NYSE:NMG) has been given an average recommendation of “Buy” by the nine ratings firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and three have given a strong buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $3.87.

Several research firms recently commented on NMG. HC Wainwright restated a “buy” rating and set a $4.50 price target on shares of Nouveau Monde Graphite in a research report on Monday, August 24th. Weiss Ratings raised Nouveau Monde Graphite from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, September 22nd. Jefferies Financial Group assumed coverage on Nouveau Monde Graphite in a research report on Wednesday, September 2nd. They set a “buy” rating and a C$2.45 price target on the stock. Freedom Broker initiated coverage on Nouveau Monde Graphite in a report on Thursday. They issued a “hold” rating and a $1.48 price objective on the stock. Finally, Wall Street Zen cut Nouveau Monde Graphite from a “hold” rating to a “sell” rating in a research report on Saturday.

Institutional Investors Weigh In On Nouveau Monde Graphite

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Intrepid Family Office LLC acquired a new position in Nouveau Monde Graphite during the fourth quarter worth $25,000. Pacifica Partners Inc. acquired a new stake in shares of Nouveau Monde Graphite in the second quarter valued at about $47,000. AXQ Capital LP grew its position in shares of Nouveau Monde Graphite by 19.4% in the second quarter. AXQ Capital LP now owns 56,985 shares of the company’s stock valued at $85,000 after purchasing an additional 9,242 shares during the period. Brooklands Fund Management Ltd purchased a new stake in shares of Nouveau Monde Graphite during the fourth quarter worth about $149,000. Finally, Bank of America Corp DE increased its stake in shares of Nouveau Monde Graphite by 5,215.1% during the first quarter. Bank of America Corp DE now owns 89,826 shares of the company’s stock worth $201,000 after purchasing an additional 88,136 shares in the last quarter. Hedge funds and other institutional investors own 41.09% of the company’s stock.

Nouveau Monde Graphite Stock Performance

NYSE:NMG opened at $1.17 on Thursday. Nouveau Monde Graphite has a one year low of $1.15 and a one year high of $6.06. The firm has a market cap of $383.47 million, a price-to-earnings ratio of -3.64 and a beta of 0.84. The firm’s fifty day moving average is $1.37 and its two-hundred 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. As a group, equities research analysts predict that Nouveau Monde Graphite will post -0.11 earnings per share for the current fiscal year.

About Nouveau Monde Graphite

Nouveau Monde Graphite Inc is a Canadian mining and advanced materials company developing an integrated source of graphite for the lithium-ion battery industry. The company is focused on producing graphite concentrate and value-added anode material for use in electric vehicles, energy-storage systems and other clean-technology applications.

Nouveau Monde’s principal asset is the Matawinie graphite project near Saint-Michel-des-Saints, Quebec. The company is also developing a battery materials plant in Bécancour, Quebec, designed to process graphite concentrate into anode material, including purified, coated spherical graphite.