Nouveau Monde Graphite's (NMG) Sell (D-) Rating Reiterated at Weiss Ratings

Key Points

• Nouveau Monde Graphite (NMG) has had its "sell (D-)" rating reaffirmed by Weiss Ratings, indicating ongoing concerns about its stock performance.
• Despite the negative rating from Weiss, National Bank Financial upgraded NMG to a "hold" rating, showcasing mixed analyst sentiments with an average target price of $2.58.
• The company's recent earnings report showed a loss of ($0.10) per share, missing analyst expectations, which adds to the uncertainty surrounding its fiscal health.

Nouveau Monde Graphite (NYSE:NMG - Get Free Report)'s stock had its "sell (d-)" rating reaffirmed by equities researchers at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Separately, 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 given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Nouveau Monde Graphite has an average rating of "Hold" and an average target price of $2.58.

Nouveau Monde Graphite Stock Performance

Shares of NYSE NMG traded up $0.34 during midday trading on Wednesday, reaching $3.92. 627,833 shares of the company were exchanged, compared to its average volume of 108,215. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.01. Nouveau Monde Graphite has a 1 year low of $1.22 and a 1 year high of $4.10. The stock has a fifty day simple moving average of $2.16 and a 200 day simple moving average of $1.88. The stock has a market cap of $596.71 million, a P/E ratio of -11.23 and a beta of 0.85.

Nouveau Monde Graphite (NYSE:NMG - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The company reported ($0.10) earnings per share for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.04). On average, research analysts forecast that Nouveau Monde Graphite will post -0.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nouveau Monde Graphite

Several large investors have recently made changes to their positions in NMG. Arkadios Wealth Advisors acquired a new stake in shares of Nouveau Monde Graphite in the first quarter valued at approximately $45,000. Millennium Management LLC boosted its holdings in shares of Nouveau Monde Graphite by 51.9% in the fourth quarter. Millennium Management LLC now owns 47,755 shares of the company's stock valued at $76,000 after acquiring an additional 16,312 shares in the last quarter. Finally, XTX Topco Ltd boosted its holdings in shares of Nouveau Monde Graphite by 100.8% in the second quarter. XTX Topco Ltd now owns 25,522 shares of the company's stock valued at $42,000 after acquiring an additional 12,811 shares in the last quarter. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.