Nouveau Monde Graphite (NYSE:NMG) Hits New 52-Week High - Time to Buy?

Key Points

• Nouveau Monde Graphite Inc. shares have reached a new 52-week high of $5.75, significantly up from a previous close of $3.34, with a trading volume of over 6.8 million shares.
• Despite the stock's recent performance, Weiss Ratings has maintained a "sell" rating, while other analysts have mixed opinions, leading to a consensus rating of "hold" and an average target price of $2.58.
• The company reported a loss of ($0.10) per share in its last earnings report, which was worse than the consensus estimate of ($0.06), indicating challenges in its financial performance.

Nouveau Monde Graphite Inc. (NYSE:NMG - Get Free Report) shares hit a new 52-week high on Tuesday . The stock traded as high as $5.75 and last traded at $5.07, with a volume of 6854495 shares trading hands. The stock had previously closed at $3.34.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on NMG shares. Weiss Ratings restated a "sell (d-)" rating on shares of Nouveau Monde Graphite in a research note on Wednesday, October 8th. National Bank Financial upgraded shares of Nouveau Monde Graphite to a "hold" rating in a research note on Thursday, September 11th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $2.58.

Nouveau Monde Graphite Trading Up 51.8%

The company has a debt-to-equity ratio of 0.01, a current ratio of 1.70 and a quick ratio of 1.70. The company's fifty day moving average is $2.29 and its 200-day moving average is $1.94. The stock has a market cap of $771.96 million, a PE ratio of -14.49 and a beta of 0.85.

Nouveau Monde Graphite (NYSE:NMG - Get Free Report) last issued its earnings results on Thursday, August 14th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.04). On average, analysts predict that Nouveau Monde Graphite Inc. will post -0.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Nouveau Monde Graphite stock. Arkadios Wealth Advisors acquired a new position in Nouveau Monde Graphite Inc. (NYSE:NMG - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 30,000 shares of the company's stock, valued at approximately $45,000. 41.09% of the stock is currently owned by hedge funds and other institutional investors.

Nouveau Monde Graphite Company Profile

Nouveau Monde Graphite Inc engages in the acquisition, exploration, development, and evaluation of mineral properties in Quebec, Canada. It primarily explores for graphite. The company's flagship property is the 100% owned Matawinie graphite property including 176 mining claims covering an area of 9,264 hectares located in Quebec.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.