Nouveau Monde Graphite (NYSE:NMG) Stock Moved Down to Sell by Wall Street Zen

Key Points

• Wall Street Zen downgraded Nouveau Monde Graphite from “hold” to “sell,” although the broader analyst consensus remains “Buy” with a $3.87 price target.
• NMG shares opened at $1.17, near their 52-week low of $1.15 and below both the 50-day ($1.37) and 200-day ($1.68) moving averages. The company reported quarterly EPS of $0.03, exceeding the $0.03 loss analysts expected.
• Institutional investors and hedge funds own approximately 41.09% of NMG, with several investors increasing their positions. The company is developing a Quebec-based graphite mine and battery-material processing plant serving the electric-vehicle and energy-storage markets.

Nouveau Monde Graphite (NYSE:NMG - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

NMG has been the topic of a number of other reports. HC Wainwright reiterated a "buy" rating and issued a $4.50 price objective on shares of Nouveau Monde Graphite in a research report on Monday, August 24th. Jefferies Financial Group started coverage on Nouveau Monde Graphite in a research note on Wednesday, September 2nd. They issued a "buy" rating and a C$2.45 target price for the company. Weiss Ratings upgraded Nouveau Monde Graphite from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, September 22nd. Zacks Research raised Nouveau Monde Graphite from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 25th. Finally, Freedom Broker initiated coverage on Nouveau Monde Graphite in a research note on Thursday. They set a "hold" rating and a $1.48 price target on the stock. Three investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $3.87.

Nouveau Monde Graphite Trading Down 0.4%

Shares of NYSE NMG opened at $1.17 on Friday. Nouveau Monde Graphite has a 1-year low of $1.15 and a 1-year high of $6.06. The company has a 50-day moving average of $1.37 and a two-hundred day moving average of $1.68. The company has a market cap of $383.47 million, a PE ratio of -3.64 and a beta of 0.84.

Nouveau Monde Graphite (NYSE:NMG - Get Free Report) last released its quarterly earnings results on Wednesday, August 12th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.06. As a group, equities research analysts forecast that Nouveau Monde Graphite will post -0.11 earnings per share for the current year.

Institutional Investors Weigh In On Nouveau Monde Graphite

A number of institutional investors have recently made changes to their positions in NMG. AXQ Capital LP increased its holdings in Nouveau Monde Graphite by 19.4% in the second quarter. AXQ Capital LP now owns 56,985 shares of the company's stock valued at $85,000 after purchasing an additional 9,242 shares during the last quarter. Intrepid Family Office LLC bought a new position in Nouveau Monde Graphite during the fourth quarter worth about $25,000. Pacifica Partners Inc. acquired a new position in shares of Nouveau Monde Graphite during the 2nd quarter worth about $47,000. Brooklands Fund Management Ltd grew its position in shares of Nouveau Monde Graphite by 88.6% during the 1st quarter. Brooklands Fund Management Ltd now owns 120,000 shares of the company's stock worth $269,000 after buying an additional 56,384 shares during the period. Finally, Banque Cantonale Vaudoise increased its stake in shares of Nouveau Monde Graphite by 119.7% in the 1st quarter. Banque Cantonale Vaudoise now owns 116,000 shares of the company's stock valued at $260,000 after acquiring an additional 63,200 shares during the last quarter. 41.09% of the stock is owned by institutional investors and hedge funds.

About Nouveau Monde Graphite

Nouveau Monde Graphite Inc is a Canadian company developing an integrated natural graphite operation in Quebec. Its business is centered on the Matawinie graphite mine near Saint-Michel-des-Saints and a Battery Material Plant in Bécancour, designed to process graphite concentrate into anode active material for lithium-ion batteries.

The company's planned product portfolio includes natural graphite concentrate and coated spherical purified graphite, an anode material used in electric vehicle and energy-storage batteries.

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