Nouveau Monde Graphite (NYSE:NMG) Releases Quarterly Earnings Results, Misses Estimates By $0.04 EPS

Key Points

• Nouveau Monde Graphite reported a quarterly EPS of ($0.10), missing analysts' expectations by ($0.04).
• The company's stock decreased to $2.01 with a market cap of $226.29 million, and institutional investors own 41.09% of the shares.
• XTX Topco Ltd increased its position in Nouveau Monde Graphite by 100.8%, acquiring an additional 12,811 shares during the second quarter.

Nouveau Monde Graphite (NYSE:NMG - Get Free Report) announced its quarterly earnings results on Thursday. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.04), Zacks reports.

Nouveau Monde Graphite Price Performance

Shares of NMG stock traded down $0.04 on Wednesday, reaching $1.81. The company's stock had a trading volume of 43,185 shares, compared to its average volume of 91,577. The company has a market capitalization of $203.77 million, a P/E ratio of -5.17 and a beta of 0.74. Nouveau Monde Graphite has a 12-month low of $1.22 and a 12-month high of $2.5747. The stock's 50 day simple moving average is $1.84 and its 200-day simple moving average is $1.76. The company has a quick ratio of 2.29, a current ratio of 1.70 and a debt-to-equity ratio of 0.01.

Hedge Funds Weigh In On Nouveau Monde Graphite

An institutional investor recently raised its position in Nouveau Monde Graphite stock. XTX Topco Ltd lifted its position in Nouveau Monde Graphite Inc. (NYSE:NMG - Free Report) by 100.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,522 shares of the company's stock after purchasing an additional 12,811 shares during the quarter. XTX Topco Ltd's holdings in Nouveau Monde Graphite were worth $42,000 at the end of the most recent quarter. 41.09% of the stock is owned by institutional investors.

About Nouveau Monde Graphite

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.