Nouveau Monde Graphite (NYSE:NMG) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of Nouveau Monde Graphite (NYSE:NMG) from a sell rating to a hold rating in a research report sent to investors on Saturday morning.

A number of other brokerages have also recently issued reports on NMG. Roth Capital set a $3.50 price objective on shares of Nouveau Monde Graphite in a report on Monday, May 18th. HC Wainwright reduced their price target on shares of Nouveau Monde Graphite from $5.50 to $4.50 and set a “buy” rating on the stock in a research report on Thursday, May 21st. National Bank Financial raised shares of Nouveau Monde Graphite to a “strong-buy” rating in a report on Friday, April 17th. Weiss Ratings restated a “sell (e+)” rating on shares of Nouveau Monde Graphite in a research report on Monday, July 6th. Finally, Zacks Research downgraded Nouveau Monde Graphite from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Nouveau Monde Graphite presently has a consensus rating of “Moderate Buy” and an average target price of $4.67.

Nouveau Monde Graphite Trading Down 2.3%

Nouveau Monde Graphite stock opened at $1.47 on Friday. The firm has a market capitalization of $235.62 million, a P/E ratio of -4.58 and a beta of 0.83. Nouveau Monde Graphite has a 1 year low of $1.26 and a 1 year high of $6.06. The business has a 50-day moving average of $1.45 and a 200-day moving average of $1.91.

Nouveau Monde Graphite (NYSE:NMG) last announced its quarterly earnings results on Wednesday, August 12th. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.06. Research analysts anticipate that Nouveau Monde Graphite will post -0.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Nouveau Monde Graphite

Several institutional investors have recently bought and sold shares of NMG. Intrepid Family Office LLC acquired a new position in Nouveau Monde Graphite during the fourth quarter worth $25,000. CWM LLC acquired a new stake in Nouveau Monde Graphite in the 4th quarter valued at $46,000. Banque Cantonale Vaudoise acquired a new stake in Nouveau Monde Graphite in the 3rd quarter valued at $58,000. XTX Topco Ltd lifted its position in Nouveau Monde Graphite by 100.8% during the 2nd quarter. XTX Topco Ltd now owns 25,522 shares of the company’s stock worth $42,000 after buying an additional 12,811 shares in the last quarter. Finally, Susquehanna International Group LLP bought a new stake in Nouveau Monde Graphite during the 3rd quarter worth about $96,000. Institutional investors own 41.09% of the company’s stock.

About Nouveau Monde Graphite

Nouveau Monde Graphite is a Canadian mineral development company focused on the exploration, development and production of high-purity natural graphite for the electric vehicle and energy storage markets. The company’s flagship Matawinie graphite project, located north of Montreal in the province of Québec, represents one of the largest known high-grade natural graphite deposits globally. Nouveau Monde Graphite aims to advance the project toward commercial production by leveraging Québec’s abundant renewable hydroelectric power and strong mining expertise.

In addition to its core mining operations, the company operates a demonstration plant in Bécancour, Québec, where it produces coated spherical purified graphite (CSPG) anode material.