Nouveau Monde Graphite (NYSE:NMG) Lowered to Strong Sell Rating by Zacks Research

Key Points

• Nouveau Monde Graphite has been downgraded to a strong sell rating by Zacks Research, reflecting a significant shift in analyst sentiment.
• The company reported a loss of ($0.10) earnings per share for the last quarter, missing estimates by $0.04, with analysts predicting a further decline in earnings for the current year.
• Despite the downgrade, some analysts still hold a buy rating with a revised price target increase to $7.50 from $2.75, amidst mixed reviews from other analysts.

Nouveau Monde Graphite (NYSE:NMG - Get Free Report) was downgraded by stock analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a report released on Tuesday,Zacks.com reports.

NMG has been the topic of a number of other reports. National Bank Financial raised shares of Nouveau Monde Graphite to a "hold" rating in a report on Thursday, September 11th. Weiss Ratings reissued a "sell (d-)" rating on shares of Nouveau Monde Graphite in a report on Wednesday, October 8th. Finally, HC Wainwright increased their price objective on shares of Nouveau Monde Graphite from $2.75 to $7.50 and gave the company a "buy" rating in a report on Wednesday. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $4.95.

Nouveau Monde Graphite Stock Performance

Shares of NYSE NMG opened at $3.91 on Tuesday. The company's fifty day moving average price is $2.38 and its 200 day moving average price is $1.97. Nouveau Monde Graphite has a 1 year low of $1.22 and a 1 year high of $6.06. The company has a market capitalization of $594.88 million, a PE ratio of -11.16 and a beta of 0.85. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.70 and a current ratio of 1.70.

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

Hedge Funds Weigh In On Nouveau Monde Graphite

An institutional investor recently bought a new position in Nouveau Monde Graphite stock. Arkadios Wealth Advisors acquired a new stake in shares of Nouveau Monde Graphite Inc. (NYSE:NMG - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 30,000 shares of the company's stock, valued at approximately $45,000. Institutional investors and hedge funds own 41.09% of the company's stock.

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.

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.