Nouveau Monde Graphite (NYSE:NMG) Stock Price Up 11.6% - Should You Buy?

Key Points

• Nouveau Monde Graphite's stock price rose by 11.6% recently, reaching a last traded price of $3.73 after trading as high as $3.92, with a significant increase in volume.
• Analysts have mixed ratings on the stock: while two analysts recommend a Buy, one has a Sell rating, and the average target price is set at $2.58.
• The company reported a quarterly loss of ($0.10) EPS, missing estimates, and is forecasted to post a negative EPS of ($0.47) for the current fiscal year.

Nouveau Monde Graphite Inc. (NYSE:NMG - Get Free Report)'s stock price rose 11.6% on Monday . The stock traded as high as $3.92 and last traded at $3.73. Approximately 489,437 shares traded hands during trading, an increase of 296% from the average daily volume of 123,732 shares. The stock had previously closed at $3.34.

Analysts Set New Price Targets

NMG has been the topic of several recent research reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Nouveau Monde Graphite in a report on Wednesday, October 8th. National Bank Financial upgraded Nouveau Monde Graphite to a "hold" rating in a research report on Thursday, September 11th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $2.58.

Nouveau Monde Graphite Trading Up 24.6%

The company has a 50-day simple moving average of $2.22 and a 200-day simple moving average of $1.91. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.70 and a current ratio of 1.70. The stock has a market cap of $633.40 million, a P/E ratio of -12.04 and a beta of 0.85.

Nouveau Monde Graphite (NYSE:NMG - Get Free Report) last issued its quarterly earnings data 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, sell-side analysts forecast that Nouveau Monde Graphite Inc. will post -0.47 EPS for the current fiscal year.

Institutional Investors Weigh In On Nouveau Monde Graphite

A hedge fund recently bought a new stake in Nouveau Monde Graphite stock. Arkadios Wealth Advisors acquired a new position in shares of Nouveau Monde Graphite Inc. (NYSE:NMG - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 30,000 shares of the company's stock, valued at approximately $45,000. 41.09% of the stock is currently 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.

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