Nouveau Monde Graphite (NYSE:NMG) Upgraded by National Bank Financial to Hold Rating

National Bank Financial upgraded shares of Nouveau Monde Graphite (NYSE:NMG) to a hold rating in a report released on Thursday morning,Zacks.com reports.

Nouveau Monde Graphite Price Performance

Shares of Nouveau Monde Graphite stock opened at $2.15 on Thursday. The stock’s 50-day simple moving average is $1.93 and its 200-day simple moving average is $1.76. Nouveau Monde Graphite has a 52 week low of $1.22 and a 52 week high of $2.57. The company has a market capitalization of $327.36 million, a price-to-earnings ratio of -6.14 and a beta of 0.75. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.01.

Nouveau Monde Graphite (NYSE:NMG) last issued its earnings results on Thursday, August 14th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.04). As a group, analysts expect that Nouveau Monde Graphite will post -0.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nouveau Monde Graphite

Several large investors have recently made changes to their positions in the company. Millennium Management LLC increased its holdings in shares of Nouveau Monde Graphite by 51.9% in the fourth quarter. Millennium Management LLC now owns 47,755 shares of the company’s stock worth $76,000 after purchasing an additional 16,312 shares during the last quarter. Arkadios Wealth Advisors bought a new stake in shares of Nouveau Monde Graphite in the first quarter worth about $45,000. Finally, XTX Topco Ltd increased its holdings in shares of Nouveau Monde Graphite by 100.8% in 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 last quarter. 41.09% of the stock is owned by institutional investors.

Nouveau Monde Graphite Company Profile

Nouveau Monde Graphite Inc engages in the acquisition, exploration, development, and evaluation of mineral properties in Quebec, Canada. It primarily explores for graphite. The company’s flagship property is the 100% owned Matawinie graphite property including 176 mining claims covering an area of 9,264 hectares located in Quebec.