Nouveau Monde Graphite (NYSE:NMG) Upgraded to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded Nouveau Monde Graphite from “sell” to “hold.” MarketBeat reports a consensus “Moderate Buy” rating and an average price target of $4.67.
• NMG shares opened at $1.47, near the 52-week low of $1.26 and well below the 52-week high of $6.06. The stock has a market capitalization of approximately $235.6 million.
• The company reported quarterly EPS of $0.03, beating the consensus estimate of a $0.03 loss, while institutional investors own approximately 41.1% of outstanding shares.

Nouveau Monde Graphite (NYSE:NMG - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Saturday.

A number of other research firms also recently issued reports on NMG. National Bank Financial upgraded Nouveau Monde Graphite to a "strong-buy" rating in a research note on Friday, April 17th. Roth Capital set a $3.50 target price on Nouveau Monde Graphite in a report on Monday, May 18th. HC Wainwright cut their target price on Nouveau Monde Graphite from $5.50 to $4.50 and set a "buy" rating on the stock in a research report on Thursday, May 21st. Zacks Research downgraded Nouveau Monde Graphite from a "strong-buy" rating to a "hold" rating in a report on Monday, July 27th. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of Nouveau Monde Graphite in a report on Monday, July 6th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Nouveau Monde Graphite currently has a consensus rating of "Moderate Buy" and a consensus target price of $4.67.

Nouveau Monde Graphite Price Performance

Shares of NYSE NMG opened at $1.47 on Friday. The stock has a market capitalization of $235.62 million, a P/E ratio of -4.58 and a beta of 0.83. The company has a 50-day moving average price of $1.45 and a 200-day moving average price of $1.91. Nouveau Monde Graphite has a 1 year low of $1.26 and a 1 year high of $6.06.

Nouveau Monde Graphite (NYSE:NMG - Get Free Report) last posted its earnings results on Wednesday, August 12th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.06. As a group, equities research analysts anticipate that Nouveau Monde Graphite will post -0.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nouveau Monde Graphite

A number of institutional investors have recently added to or reduced their stakes in NMG. Intrepid Family Office LLC purchased a new stake in Nouveau Monde Graphite in the 4th quarter valued at about $25,000. XTX Topco Ltd boosted its stake 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 buying an additional 12,811 shares during the last quarter. CWM LLC purchased a new position in shares of Nouveau Monde Graphite in the 4th quarter worth approximately $46,000. Banque Cantonale Vaudoise purchased a new position in shares of Nouveau Monde Graphite in the 3rd quarter worth approximately $58,000. Finally, Susquehanna International Group LLP bought a new position in shares of Nouveau Monde Graphite in the third quarter valued at approximately $96,000. 41.09% of the stock is owned by institutional investors.

About Nouveau Monde Graphite

Nouveau Monde Graphite is a Canadian mineral development company focused on the exploration, development and production of high-purity natural graphite for the electric vehicle and energy storage markets. The company’s flagship Matawinie graphite project, located north of Montreal in the province of Québec, represents one of the largest known high-grade natural graphite deposits globally. Nouveau Monde Graphite aims to advance the project toward commercial production by leveraging Québec’s abundant renewable hydroelectric power and strong mining expertise.

In addition to its core mining operations, the company operates a demonstration plant in Bécancour, Québec, where it produces coated spherical purified graphite (CSPG) anode material.

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