Nouveau Monde Graphite Inc. (NYSE:NMG) Receives Consensus Rating of "Buy" from Analysts

Key Points

• Analysts hold a consensus “Buy” rating on Nouveau Monde Graphite, with four buy ratings, three strong-buy ratings and one sell rating. The average 12-month price target is $4.67, compared with the stock’s $1.40 opening price.
• NMG shares remain near their 52-week low of $1.26, well below the 52-week high of $6.06; the company has a market capitalization of approximately $225 million.
• The company exceeded quarterly earnings expectations, reporting EPS of $0.03 versus the consensus estimate of a $0.03 loss. Institutional investors and hedge funds own 41.09% of the stock, while Nouveau Monde advances its Québec graphite projects and coated-anode-material demonstration plant.

Nouveau Monde Graphite Inc. (NYSE:NMG - Get Free Report) has earned an average recommendation of "Buy" from the eight analysts that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, four have issued a buy rating and three have given a strong buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $4.6667.

NMG has been the topic of several research analyst reports. Zacks Research raised shares of Nouveau Monde Graphite from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 25th. HC Wainwright reaffirmed a "buy" rating and issued a $4.50 price target on shares of Nouveau Monde Graphite in a research note on Monday, August 24th. Weiss Ratings lowered shares of Nouveau Monde Graphite from a "sell (d-)" rating to a "sell (e+)" rating in a report on Friday. Wall Street Zen raised shares of Nouveau Monde Graphite from a "sell" rating to a "hold" rating in a research report on Saturday, August 15th. Finally, Roth Capital set a $3.50 price objective on shares of Nouveau Monde Graphite in a research report on Monday, May 18th.

Nouveau Monde Graphite Stock Performance

Shares of NMG opened at $1.40 on Friday. Nouveau Monde Graphite has a 52-week low of $1.26 and a 52-week high of $6.06. The business's 50 day moving average price is $1.44 and its two-hundred day moving average price is $1.81. The firm has a market cap of $225.16 million, a PE ratio of -4.37 and a beta of 0.86.

Nouveau Monde Graphite (NYSE:NMG - Get Free Report) last announced its quarterly earnings data on Wednesday, August 12th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.06. Research analysts predict that Nouveau Monde Graphite will post -0.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NMG. AXQ Capital LP grew its stake 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 acquiring an additional 9,242 shares during the period. Intrepid Family Office LLC acquired a new position in shares of Nouveau Monde Graphite during the fourth quarter worth approximately $25,000. XTX Topco Ltd lifted its holdings in shares of Nouveau Monde Graphite by 100.8% in the 2nd quarter. XTX Topco Ltd now owns 25,522 shares of the company's stock worth $42,000 after purchasing an additional 12,811 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of Nouveau Monde Graphite by 36.7% in the 4th quarter. Royal Bank of Canada now owns 68,298 shares of the company's stock worth $170,000 after purchasing an additional 18,329 shares in the last quarter. Finally, CWM LLC acquired a new stake in Nouveau Monde Graphite in the 4th quarter valued at $46,000. 41.09% of the stock is owned by institutional investors and hedge funds.

Nouveau Monde Graphite Company Profile

Nouveau Monde Graphite is a Canadian mineral development company focused on the exploration, development and production of high-purity natural graphite for the electric vehicle and energy storage markets. The company’s flagship Matawinie graphite project, located north of Montreal in the province of Québec, represents one of the largest known high-grade natural graphite deposits globally. Nouveau Monde Graphite aims to advance the project toward commercial production by leveraging Québec’s abundant renewable hydroelectric power and strong mining expertise.

In addition to its core mining operations, the company operates a demonstration plant in Bécancour, Québec, where it produces coated spherical purified graphite (CSPG) anode material.

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