Nouveau Monde Graphite (CVE:NOU) Shares Up 5.5% – Still a Buy?

Nouveau Monde Graphite Inc. (CVE:NOU)’s stock price shot up 5.5% during mid-day trading on Monday . The stock traded as high as C$3.40 and last traded at C$3.24. 108,430 shares traded 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.

Wall Street Analysts Forecast Growth

Separately, National Bank Financial dropped their price objective on Nouveau Monde Graphite from C$4.75 to C$4.50 and set an “outperform” rating for the company in a research note on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. Based on data from MarketBeat, Nouveau Monde Graphite has a consensus rating of “Buy” and a consensus price target of C$5.25.

Nouveau Monde Graphite Stock Performance

The stock has a market cap of C$493.33 million, a P/E ratio of -5.40 and a beta of 1.82. The company has a 50 day simple moving average of C$3.24 and a 200-day simple moving average of C$3.24. The company has a debt-to-equity ratio of 105.58, a current ratio of 3.58 and a quick ratio of 1.29.

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.