Nouveau Monde Graphite (NYSE:NMG) Announces Quarterly Earnings Results

Nouveau Monde Graphite (NYSE:NMG) posted its quarterly earnings results on Thursday. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03, Zacks reports.

Nouveau Monde Graphite Price Performance

NYSE NMG opened at $0.78 on Friday. The firm’s fifty day moving average price is $1.11 and its 200 day moving average price is $1.67. The company has a market capitalization of $256.74 million, a price-to-earnings ratio of -2.44 and a beta of 0.65. Nouveau Monde Graphite has a 12 month low of $0.75 and a 12 month high of $3.59.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NMG. Wall Street Zen raised Nouveau Monde Graphite from a “sell” rating to a “hold” rating in a research report on Saturday, October 24th. Zacks Research cut shares of Nouveau Monde Graphite from a “strong-buy” rating to a “hold” rating in a report on Friday, October 23rd. HC Wainwright reaffirmed a “buy” rating and issued a $4.50 target price on shares of Nouveau Monde Graphite in a report on Monday, August 24th. Freedom Broker initiated coverage on shares of Nouveau Monde Graphite in a research note on Thursday, October 1st. They issued a “hold” rating and a $1.48 price target for the company. Finally, Weiss Ratings cut shares of Nouveau Monde Graphite from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Nouveau Monde Graphite presently has a consensus rating of “Moderate Buy” and a consensus price target of $3.87.

About Nouveau Monde Graphite

Nouveau Monde Graphite is a Canadian company developing an integrated natural graphite business focused on supplying materials for electric-vehicle batteries and energy storage systems. Its planned activities span graphite mining, processing and the production of battery anode materials. The company’s key projects are in Quebec: the Matawinie graphite project near Saint-Michel-des-Saints and a proposed battery-materials facility in Bécancour. Nouveau Monde Graphite is developing these projects to serve North American customers and support regional battery supply chains.