Nouveau Monde Graphite (CVE:NOU) Shares Climb 5.5% – Should You Buy?

Nouveau Monde Graphite Inc. (CVE:NOU)’s share price rose 5.5% on Thursday. The stock traded as high as C$3.40 and last traded at C$3.24. Approximately 108,430 shares were traded during trading, an increase of 29% from the average daily volume of 83,890 shares. The stock had previously closed at C$3.07.

Analysts Set New Price Targets

Separately, Jefferies Financial Group raised Nouveau Monde Graphite to a “strong-buy” rating in a report on Wednesday, September 2nd. Two research analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Strong Buy” and an average price target of C$5.25.

Nouveau Monde Graphite Price Performance

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

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.