Weiss Ratings Reiterates "Sell (D-)" Rating for Nouveau Monde Graphite (NYSE:NMG)

Key Points

• Weiss Ratings has reiterated a "Sell (D-)" rating for Nouveau Monde Graphite (NYSE:NMG), indicating ongoing concerns about the company's performance.
• In addition, Zacks Research has downgraded the stock from a "hold" rating to a "strong sell" rating, while other analysts have mixed sentiments with three Buy ratings, one Hold, and two Sell ratings.
• Nouveau Monde Graphite recently reported earnings of ($0.10) per share, missing analyst expectations, with a forecasted annual loss of -$0.47 per share for the current fiscal year.

Nouveau Monde Graphite (NYSE:NMG - Get Free Report)'s stock had its "sell (d-)" rating restated by stock analysts at Weiss Ratings in a research note issued to investors on Saturday,Weiss Ratings reports.

Other analysts also recently issued research reports about the stock. Zacks Research downgraded shares of Nouveau Monde Graphite from a "hold" rating to a "strong sell" rating in a report on Tuesday, October 14th. Roth Capital set a $4.70 price objective on shares of Nouveau Monde Graphite and gave the company a "buy" rating in a research note on Thursday, October 16th. HC Wainwright increased their price objective on shares of Nouveau Monde Graphite from $2.75 to $7.50 and gave the company a "buy" rating in a research note on Wednesday, October 15th. Finally, National Bank Financial raised shares of Nouveau Monde Graphite to a "hold" rating in a research note on Thursday, September 11th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Nouveau Monde Graphite presently has an average rating of "Hold" and an average target price of $4.87.

Nouveau Monde Graphite Stock Performance

Shares of Nouveau Monde Graphite stock opened at $2.94 on Friday. The company has a 50 day moving average of $2.53 and a 200-day moving average of $2.05. Nouveau Monde Graphite has a 1-year low of $1.22 and a 1-year high of $6.06. 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 company has a market cap of $447.95 million, a PE ratio of -8.41 and a beta of 0.85.

Nouveau Monde Graphite (NYSE:NMG - Get Free Report) last issued its quarterly earnings results 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). As a group, equities research analysts forecast that Nouveau Monde Graphite will post -0.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NMG. Brookwood Investment Group LLC bought a new position in Nouveau Monde Graphite during the third quarter worth $152,000. Arkadios Wealth Advisors bought a new position in Nouveau Monde Graphite during the first quarter worth $45,000. Finally, XTX Topco Ltd boosted its stake in Nouveau Monde Graphite by 100.8% during the second 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. 41.09% of the stock is 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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