Nouveau Monde Graphite (NYSE:NMG) Trading 4.6% Higher - Still a Buy?

Key Points

• Nouveau Monde Graphite (NYSE:NMG) shares increased by 4.6% to a last traded price of $2.94, with a notable trading volume surge of 148% compared to its average.
• Analysts have mixed ratings for NMG, with an average rating of "Hold" and a consensus price target of $2.58, while Weiss Ratings has issued a "sell (d-)" rating.
• The company reported a quarterly loss of ($0.10) EPS, missing analyst estimates, and is expected to post a -0.47 EPS for the current year.

Nouveau Monde Graphite Inc. (NYSE:NMG - Get Free Report) shares were up 4.6% on Monday . The stock traded as high as $2.99 and last traded at $2.94. Approximately 440,496 shares changed hands during mid-day trading, an increase of 148% from the average daily volume of 177,392 shares. The stock had previously closed at $2.81.

Analyst Ratings Changes

NMG has been the subject of a number of recent analyst reports. Weiss Ratings restated a "sell (d-)" rating on shares of Nouveau Monde Graphite in a research report on Saturday, September 27th. National Bank Financial upgraded 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 assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $2.58.

Nouveau Monde Graphite Price Performance

The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.01. The stock has a market cap of $447.64 million, a price-to-earnings ratio of -8.40 and a beta of 0.85. The company has a 50 day simple moving average of $2.10 and a 200-day simple moving average of $1.86.

Nouveau Monde Graphite (NYSE:NMG - Get Free Report) last announced its 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). Research analysts expect that Nouveau Monde Graphite Inc. will post -0.47 EPS for the current year.

Institutional Investors Weigh In On Nouveau Monde Graphite

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NMG. XTX Topco Ltd boosted its stake in shares of Nouveau Monde Graphite by 100.8% during the 2nd quarter. XTX Topco Ltd now owns 25,522 shares of the company's stock worth $42,000 after buying an additional 12,811 shares during the last quarter. Arkadios Wealth Advisors bought a new stake in Nouveau Monde Graphite during the first quarter worth about $45,000. Finally, Millennium Management LLC boosted its position in Nouveau Monde Graphite by 51.9% during the fourth quarter. Millennium Management LLC now owns 47,755 shares of the company's stock valued at $76,000 after purchasing an additional 16,312 shares during the last quarter. 41.09% of the stock is currently owned by institutional investors and hedge funds.

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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