Nouveau Monde Graphite Inc. (NYSE:NMG - Get Free Report)'s share price gapped up prior to trading on Thursday . The stock had previously closed at $3.58, but opened at $4.09. Nouveau Monde Graphite shares last traded at $3.90, with a volume of 409,270 shares.
Analyst Ratings Changes
NMG has been the topic of a number of research reports. National Bank Financial upgraded shares of Nouveau Monde Graphite to a "hold" rating in a report on Thursday, September 11th. Weiss Ratings restated a "sell (d-)" rating on shares of Nouveau Monde Graphite in a report on Wednesday. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $2.58.
Get Our Latest Stock Analysis on NMG
Nouveau Monde Graphite Stock Performance
The stock has a market cap of $534.43 million, a P/E ratio of -10.03 and a beta of 0.85. The business has a 50 day moving average price of $2.16 and a 200 day moving average price of $1.88. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 0.01.
Nouveau Monde Graphite (NYSE:NMG - Get Free Report) last released its 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). As a group, sell-side analysts expect that Nouveau Monde Graphite Inc. will post -0.47 EPS for the current year.
Hedge Funds Weigh In On Nouveau Monde Graphite
A number of hedge funds have recently added to or reduced their stakes in the stock. XTX Topco Ltd grew its stake in 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 in the last quarter. Millennium Management LLC grew its stake 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 acquiring an additional 16,312 shares in the last quarter. Finally, Arkadios Wealth Advisors bought a new position in Nouveau Monde Graphite in the 1st quarter worth about $45,000. 41.09% of the stock is currently owned by institutional investors.
Nouveau Monde Graphite Company Profile
(
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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.
Further Reading
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