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

Key Points

• Nouveau Monde Graphite has a “Moderate Buy” consensus from seven analysts, with three buys, two strong buys, one hold and one sell. The average 12-month price target is $4.67, compared with a recent share price of $1.42.
• Institutional investors own 41.09% of the company, with Renaissance Technologies, Millennium Management, Bank of Montreal and Goldman Sachs among firms that recently increased their positions.
• The stock remains near its 52-week low of $1.26 and well below its 52-week high of $6.06. Nouveau Monde reported a quarterly loss of $0.02 per share, beating estimates for a $0.08 loss, while analysts expect a full-year loss of $0.20 per share.

Shares of Nouveau Monde Graphite Inc. (NYSE:NMG - Get Free Report) have received a consensus rating of "Moderate Buy" from the seven brokerages that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and two have given a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $4.6667.

A number of research analysts have recently issued reports on the company. Wall Street Zen cut Nouveau Monde Graphite from a "hold" rating to a "sell" rating in a research note on Monday, June 29th. Roth Capital set a $3.50 target price on Nouveau Monde Graphite in a research note on Monday, May 18th. Zacks Research cut Nouveau Monde Graphite from a "strong-buy" rating to a "hold" rating in a report on Monday, July 27th. National Bank Financial upgraded Nouveau Monde Graphite to a "strong-buy" rating in a research report on Friday, April 17th. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Nouveau Monde Graphite in a research note on Monday, July 6th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC increased 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 buying an additional 1,321,523 shares during the period. Millennium Management LLC boosted its position in Nouveau Monde Graphite by 405.9% during the 4th 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 during the period. Bank of Montreal Can boosted its position in Nouveau Monde Graphite by 236.1% during the 4th 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 during the period. Marshall Wace LLP bought a new stake in Nouveau Monde Graphite in the 4th quarter worth $380,000. Finally, Goldman Sachs Group Inc. grew its holdings in Nouveau Monde Graphite by 217.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 128,462 shares of the company's stock worth $319,000 after acquiring an additional 87,971 shares during the last quarter. Institutional investors own 41.09% of the company's stock.

Nouveau Monde Graphite Price Performance

Shares of Nouveau Monde Graphite stock opened at $1.42 on Wednesday. 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 $1.26 and a 52-week high of $6.06. The company has a fifty day moving average of $1.47 and a 200-day moving average of $1.94. The stock has a market capitalization of $227.57 million, a price-to-earnings ratio of -3.14 and a beta of 0.83.

Nouveau Monde Graphite (NYSE:NMG - Get Free Report) last issued its earnings results on Tuesday, May 12th. The company reported ($0.02) EPS for the quarter, topping analysts' consensus estimates of ($0.08) by $0.06. Equities research analysts expect that Nouveau Monde Graphite will post -0.2 EPS for the current year.

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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