Nouveau Monde Graphite (CVE:NOU) Trading Up 5.5% – Here’s Why

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

Wall Street Analyst Weigh In

NOU has been the topic of a number of recent research reports. Maxim Group raised shares of Nouveau Monde Graphite to a “strong-buy” rating in a research report on Tuesday, January 20th. National Bank Financial reduced their price target on shares of Nouveau Monde Graphite from C$4.75 to C$4.50 and set an “outperform” rating on the stock in a research note on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to MarketBeat.com, Nouveau Monde Graphite presently has a consensus rating of “Buy” and an average price target of C$5.25.

Nouveau Monde Graphite Stock Up 5.5%

The company has a market cap of C$493.33 million, a P/E ratio of -5.40 and a beta of 1.82. The firm’s 50 day moving average price is C$3.24 and its two-hundred day moving average price is C$3.24. The company has a debt-to-equity ratio of 105.58, a quick ratio of 1.29 and a current ratio of 3.58.

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.