Nouveau Monde Graphite (NYSE:NMG) Reaches New 12-Month High - Still a Buy?

Key Points

• Nouveau Monde Graphite's stock has reached a new 52-week high, trading at $3.34, marking a significant increase from its previous close of $3.09.
• Analysts have mixed ratings on the stock, with a consensus rating of "Hold" and an average price target of $2.58.
• The company reported a quarterly loss of ($0.10) per share, missing analysts' estimates, and is expected to post an annual EPS of ($0.47).

Nouveau Monde Graphite Inc. (NYSE:NMG - Get Free Report)'s stock price reached a new 52-week high on Wednesday . The stock traded as high as $3.36 and last traded at $3.34, with a volume of 392974 shares trading hands. The stock had previously closed at $3.09.

Wall Street Analysts Forecast Growth

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

Nouveau Monde Graphite Trading Up 15.9%

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 firm has a market cap of $545.09 million, a price-to-earnings ratio of -10.22 and a beta of 0.85. The business has a 50-day moving average of $2.12 and a 200-day moving average of $1.87.

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

Institutional Trading of Nouveau Monde Graphite

A number of institutional investors have recently bought and sold shares of NMG. XTX Topco Ltd raised its holdings in shares of Nouveau Monde Graphite by 100.8% in the 2nd quarter. XTX Topco Ltd now owns 25,522 shares of the company's stock worth $42,000 after acquiring an additional 12,811 shares during the last quarter. Arkadios Wealth Advisors bought a new position in Nouveau Monde Graphite in the 1st quarter worth approximately $45,000. Finally, Millennium Management LLC boosted its holdings in Nouveau Monde Graphite by 51.9% in the 4th quarter. Millennium Management LLC now owns 47,755 shares of the company's stock worth $76,000 after buying an additional 16,312 shares during the period. Institutional investors own 41.09% of the company's stock.

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.

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