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

Shares of Nouveau Monde Graphite Inc. (CVE:NOU) traded up 5.5% during trading on Wednesday . The stock traded as high as C$3.40 and last traded at C$3.24. Approximately 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.

Analyst Ratings Changes

Separately, National Bank Financial reduced their target price on shares of Nouveau Monde Graphite from C$4.75 to C$4.50 and set an “outperform” rating on the stock in a report on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of C$5.25.

Nouveau Monde Graphite Stock Performance

The company has a debt-to-equity ratio of 105.58, a current ratio of 3.58 and a quick ratio of 1.29. The stock has a 50-day moving average price of C$3.24 and a 200-day moving average price of C$3.24. The firm has a market capitalization of C$493.33 million, a PE ratio of -5.40 and a beta of 1.82.

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.