Nouveau Monde Graphite (NYSE:NMG) Issues Quarterly Earnings Results

Nouveau Monde Graphite (NYSE:NMG) announced its quarterly earnings data on Wednesday. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.10, Zacks reports.

Nouveau Monde Graphite Trading Up 1.6%

NYSE:NMG traded up $0.04 during trading hours on Friday, hitting $2.18. The stock had a trading volume of 90,901 shares, compared to its average volume of 929,628. The business’s 50 day moving average is $2.38 and its 200-day moving average is $2.65. 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 company has a market cap of $349.80 million, a price-to-earnings ratio of -3.30 and a beta of 0.87. Nouveau Monde Graphite has a one year low of $1.30 and a one year high of $6.06.

Analyst Ratings Changes

NMG has been the subject of a number of recent research reports. HC Wainwright dropped their price target on shares of Nouveau Monde Graphite from $7.50 to $5.50 and set a “buy” rating for the company in a research note on Friday, January 30th. Maxim Group initiated coverage on shares of Nouveau Monde Graphite in a report on Tuesday, January 20th. They set a “buy” rating and a $6.00 target price for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nouveau Monde Graphite in a research report on Thursday, January 22nd. Zacks Research raised Nouveau Monde Graphite from a “strong sell” rating to a “hold” rating in a research note on Monday, December 15th. Finally, BMO Capital Markets started coverage on Nouveau Monde Graphite in a research note on Friday, December 12th. They set an “outperform” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Nouveau Monde Graphite has a consensus rating of “Moderate Buy” and an average target price of $5.40.

Institutional Trading of Nouveau Monde Graphite

Large investors have recently made changes to their positions in the company. Millennium Management LLC raised its stake in Nouveau Monde Graphite by 405.9% during the 4th quarter. Millennium Management LLC now owns 349,950 shares of the company’s stock worth $868,000 after buying an additional 280,771 shares during the period. Marshall Wace LLP bought a new position in Nouveau Monde Graphite during the fourth quarter worth about $380,000. Bank of Montreal Can grew its stake in Nouveau Monde Graphite by 236.1% in the fourth quarter. Bank of Montreal Can now owns 164,312 shares of the company’s stock valued at $401,000 after acquiring an additional 115,424 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Nouveau Monde Graphite by 886.7% in the fourth quarter. Renaissance Technologies LLC now owns 111,500 shares of the company’s stock worth $277,000 after acquiring an additional 100,200 shares in the last quarter. Finally, Financial Sense Advisors Inc. bought a new stake in shares of Nouveau Monde Graphite in the third quarter worth about $256,000. Institutional investors own 41.09% of the company’s stock.

About Nouveau Monde Graphite

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.