Roth Capital Has Bullish Outlook for NMG FY2024 Earnings

Nouveau Monde Graphite Inc. (NYSE:NMG) – Equities researchers at Roth Capital lifted their FY2024 EPS estimates for Nouveau Monde Graphite in a research report issued on Wednesday, March 26th. Roth Capital analyst J. Reagor now expects that the company will post earnings of ($0.41) per share for the year, up from their prior forecast of ($0.46). The consensus estimate for Nouveau Monde Graphite’s current full-year earnings is ($0.47) per share. Roth Capital also issued estimates for Nouveau Monde Graphite’s Q4 2024 earnings at ($0.06) EPS, Q2 2025 earnings at ($0.04) EPS, Q3 2025 earnings at ($0.04) EPS and FY2025 earnings at ($0.16) EPS.

Several other equities research analysts have also weighed in on NMG. HC Wainwright reiterated a “buy” rating and issued a $3.00 target price on shares of Nouveau Monde Graphite in a report on Tuesday, December 17th. Roth Mkm dropped their target price on shares of Nouveau Monde Graphite from $3.00 to $2.40 and set a “buy” rating on the stock in a report on Wednesday.

Nouveau Monde Graphite Price Performance

Nouveau Monde Graphite stock opened at $1.56 on Friday. The firm has a market capitalization of $175.62 million, a P/E ratio of -2.44 and a beta of 0.78. The business has a 50-day moving average of $1.82 and a 200-day moving average of $1.62. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.02. Nouveau Monde Graphite has a 1 year low of $1.22 and a 1 year high of $2.57.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. National Bank of Canada FI boosted its position in Nouveau Monde Graphite by 6.7% during the 3rd quarter. National Bank of Canada FI now owns 124,610 shares of the company’s stock worth $196,000 after acquiring an additional 7,871 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Nouveau Monde Graphite during the fourth quarter worth $26,000. Bank of Montreal Can grew its position in Nouveau Monde Graphite by 46.2% in the fourth quarter. Bank of Montreal Can now owns 48,430 shares of the company’s stock valued at $76,000 after purchasing an additional 15,300 shares in the last quarter. Quinn Opportunity Partners LLC increased its stake in Nouveau Monde Graphite by 207.7% in the 4th quarter. Quinn Opportunity Partners LLC now owns 74,068 shares of the company’s stock valued at $118,000 after buying an additional 50,000 shares during the last quarter. Finally, Millennium Management LLC lifted its position in Nouveau Monde Graphite by 51.9% during the 4th quarter. Millennium Management LLC now owns 47,755 shares of the company’s stock worth $76,000 after buying an additional 16,312 shares in the last quarter. 41.09% of the stock is currently owned by institutional investors.

About Nouveau Monde Graphite

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.