Nouveau Monde Graphite (NYSE:NMG) Stock Rating Raised to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Nouveau Monde Graphite from “sell” to “hold,” while overall analyst sentiment remains “Buy,” with a consensus price target of $3.87.
• NMG shares opened at $0.94, near their one-year low of $0.87 and below the 50-day and 200-day moving averages of $1.26 and $1.55, respectively.
• The company exceeded quarterly earnings expectations, reporting $0.03 EPS versus the consensus estimate of a $0.03 loss; institutional investors own 41.09% of the stock.

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

NMG has been the topic of a number of other research reports. Freedom Broker assumed coverage on Nouveau Monde Graphite in a report on Thursday, October 1st. They issued a "hold" rating and a $1.48 price objective on the stock. HC Wainwright reissued a "buy" rating and issued a $4.50 target price on shares of Nouveau Monde Graphite in a research report on Monday, August 24th. Jefferies Financial Group started coverage on shares of Nouveau Monde Graphite in a research note on Wednesday, September 2nd. They set a "buy" rating and a C$2.45 price target on the stock. Weiss Ratings lowered shares of Nouveau Monde Graphite from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Monday, October 12th. Finally, Zacks Research upgraded shares of Nouveau Monde Graphite from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 25th. Three analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $3.87.

Nouveau Monde Graphite Trading Up 6.2%

Shares of Nouveau Monde Graphite stock opened at $0.94 on Friday. The stock has a 50-day moving average price of $1.26 and a 200 day moving average price of $1.55. The company has a market cap of $310.73 million, a P/E ratio of -2.95 and a beta of 0.84. Nouveau Monde Graphite has a 1 year low of $0.87 and a 1 year high of $3.60.

Nouveau Monde Graphite (NYSE:NMG - Get Free Report) last issued its 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. On average, equities analysts forecast that Nouveau Monde Graphite will post -0.11 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nouveau Monde Graphite

A number of hedge funds and other institutional investors have recently bought and sold shares of NMG. Renaissance Technologies LLC raised its stake in shares of Nouveau Monde Graphite by 1,185.2% in the first quarter. Renaissance Technologies LLC now owns 1,433,023 shares of the company's stock worth $3,210,000 after acquiring an additional 1,321,523 shares during the last quarter. 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. Banque Cantonale Vaudoise grew its position in shares of Nouveau Monde Graphite by 119.7% during the 1st quarter. Banque Cantonale Vaudoise now owns 116,000 shares of the company's stock worth $260,000 after buying an additional 63,200 shares during the period. Bank of America Corp DE raised its stake in shares of Nouveau Monde Graphite by 5,215.1% during the first quarter. Bank of America Corp DE now owns 89,826 shares of the company's stock worth $201,000 after buying an additional 88,136 shares during the last quarter. Finally, AXQ Capital LP raised its stake in shares of Nouveau Monde Graphite by 19.4% during the second quarter. AXQ Capital LP now owns 56,985 shares of the company's stock worth $85,000 after buying an additional 9,242 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 source of natural graphite and battery-anode material in Quebec. The company is focused on supplying graphite products for lithium-ion batteries used in electric vehicles, energy-storage systems and other clean-technology applications.

Nouveau Monde's principal assets include the Matawinie graphite project, an open-pit mine and concentrator planned near Saint-Michel-des-Saints, Quebec, and a battery-materials plant in Bécancour, Quebec.

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