Nouveau Monde Graphite (NYSE:NMG) Shares Up 11% – Still a Buy?

Nouveau Monde Graphite Inc. (NYSE:NMG) traded up 11% during trading on Tuesday . The company traded as high as $2.57 and last traded at $2.33. 472,271 shares traded hands during mid-day trading, an increase of 69% from the average session volume of 278,942 shares. The stock had previously closed at $2.10.

Analyst Ratings Changes

Separately, HC Wainwright restated a “buy” rating and issued a $3.00 target price on shares of Nouveau Monde Graphite in a research note on Tuesday, December 17th.

Nouveau Monde Graphite Stock Down 6.8 %

The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.02. The firm has a market cap of $245.42 million, a P/E ratio of -3.41 and a beta of 0.67. The stock’s fifty day moving average is $1.45 and its two-hundred day moving average is $1.54.

Hedge Funds Weigh In On Nouveau Monde Graphite

A hedge fund recently raised its stake in Nouveau Monde Graphite stock. National Bank of Canada FI boosted its position in Nouveau Monde Graphite Inc. (NYSE:NMG) by 6.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 124,610 shares of the company’s stock after buying an additional 7,871 shares during the quarter. National Bank of Canada FI owned approximately 0.11% of Nouveau Monde Graphite worth $196,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 41.09% of the stock is currently owned by institutional investors and hedge funds.

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.