Nouveau Monde Graphite (CVE:NOU) Raised to Strong-Buy at Freedom Broker

Nouveau Monde Graphite (CVE:NOU) was upgraded by investment analysts at Freedom Broker from a “hold” rating to a “strong-buy” rating in a report released on Friday, Zacks reports.

A number of other equities research analysts have also commented on the stock. Jefferies Financial Group raised shares of Nouveau Monde Graphite to a “strong-buy” rating in a research note on Wednesday, September 2nd. National Bank Financial lowered their target price on shares of Nouveau Monde Graphite from C$4.00 to C$3.50 and set an “outperform” rating for the company in a research note on Monday, October 19th. Three analysts have rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Strong Buy” and an average target price of C$4.75.

Nouveau Monde Graphite Trading Up 5.5%

CVE:NOU traded up C$0.17 during trading hours on Friday, hitting C$3.24. 108,430 shares of the company were exchanged, compared to its average volume of 83,890. The stock has a market capitalization of C$493.33 million, a price-to-earnings ratio of -5.40 and a beta of 1.82. The company has a current ratio of 3.58, a quick ratio of 1.29 and a debt-to-equity ratio of 105.58. Nouveau Monde Graphite has a one year low of C$1.70 and a one year high of C$4.14. The company has a fifty day simple moving average of C$3.24 and a 200 day simple moving average of C$3.24.

Nouveau Monde Graphite Company Profile

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.