Nouveau Monde Graphite (CVE:NOU) Trading Up 5.5% – What’s Next?

Nouveau Monde Graphite Inc. (CVE:NOU) shot up 5.5% on Friday . The stock traded as high as C$3.40 and last traded at C$3.24. 108,430 shares changed hands during trading, an increase of 29% from the average session volume of 83,890 shares. The stock had previously closed at C$3.07.

Analyst Upgrades and Downgrades

NOU has been the topic of several recent research reports. National Bank Financial raised shares of Nouveau Monde Graphite from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from C$3.50 to C$5.00 in a research note on Tuesday, November 4th. Maxim Group upgraded shares of Nouveau Monde Graphite to a “strong-buy” rating in a research note on Tuesday, January 20th. Finally, BMO Capital Markets set a C$6.00 price target on shares of Nouveau Monde Graphite and gave the stock an “outperform” rating in a report on Friday, December 12th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of C$5.50.

Nouveau Monde Graphite Price Performance

The company has a market capitalization of C$493.33 million, a price-to-earnings ratio of -5.40 and a beta of 1.82. The company has a fifty day simple moving average of C$3.24 and a two-hundred day simple moving average of C$3.24. The company has a debt-to-equity ratio of 16.18, a quick ratio of 1.29 and a current ratio of 1.74.

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. It also involved in the real estate and trading activities. The company was formerly known as Nouveau Monde Mining Enterprises Inc and changed its name to Nouveau Monde Graphite Inc in February 2017.