Nouveau Monde Graphite Inc. (NYSE:NMG) Given Average Recommendation of "Buy" by Brokerages

Key Points

• Nouveau Monde Graphite has a consensus analyst rating of “Buy”, based on coverage from seven analysts. The average 12-month price target is about $4.67.
• The stock was trading around $1.42 and is near its 52-week low of $1.37, despite being up against a 52-week high of $6.06. It has a market cap of about $227.6 million.
• The company recently beat quarterly earnings expectations, reporting ($0.02) EPS versus estimates for a ($0.08) loss. Analysts still expect the company to remain unprofitable this fiscal year, with projected EPS of -0.2.

Shares of Nouveau Monde Graphite Inc. (NYSE:NMG - Get Free Report) have been given a consensus recommendation of "Buy" by the seven analysts that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have issued a buy rating and three have given a strong buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $4.6667.

NMG has been the topic of a number of research reports. Zacks Research raised shares of Nouveau Monde Graphite from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 26th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Nouveau Monde Graphite in a research note on Monday, July 6th. National Bank Financial raised shares of Nouveau Monde Graphite to a "strong-buy" rating in a research report on Friday, April 17th. Wall Street Zen downgraded shares of Nouveau Monde Graphite from a "hold" rating to a "sell" rating in a research note on Monday, June 29th. Finally, HC Wainwright decreased their price objective on Nouveau Monde Graphite from $5.50 to $4.50 and set a "buy" rating for the company in a report on Thursday, May 21st.

Nouveau Monde Graphite Stock Down 0.4%

Shares of Nouveau Monde Graphite stock opened at $1.42 on Friday. The firm has a market cap of $227.57 million, a PE ratio of -3.14 and a beta of 0.81. The business's 50 day simple moving average is $1.67 and its 200 day simple moving average is $2.12. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.75 and a current ratio of 0.75. Nouveau Monde Graphite has a 52-week low of $1.37 and a 52-week high of $6.06.

Nouveau Monde Graphite (NYSE:NMG - Get Free Report) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.02) earnings per share for the quarter, topping analysts' consensus estimates of ($0.08) by $0.06. On average, analysts predict that Nouveau Monde Graphite will post -0.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC raised its stake in shares of Nouveau Monde Graphite by 1,185.2% during the 1st quarter. Renaissance Technologies LLC now owns 1,433,023 shares of the company's stock worth $3,210,000 after purchasing an additional 1,321,523 shares in the last quarter. Millennium Management LLC grew its stake in shares of Nouveau Monde Graphite by 405.9% in the fourth quarter. Millennium Management LLC now owns 349,950 shares of the company's stock valued at $868,000 after buying an additional 280,771 shares in the last quarter. Bank of Montreal Can grew its stake in shares of Nouveau Monde Graphite by 236.1% in the fourth quarter. Bank of Montreal Can now owns 164,312 shares of the company's stock valued at $401,000 after buying an additional 115,424 shares in the last quarter. Marshall Wace LLP acquired a new position in Nouveau Monde Graphite during the fourth quarter worth $380,000. Finally, Goldman Sachs Group Inc. increased its holdings in Nouveau Monde Graphite by 217.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 128,462 shares of the company's stock worth $319,000 after buying an additional 87,971 shares during the last quarter. 41.09% of the stock is currently owned by institutional investors.

About Nouveau Monde Graphite

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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