Nouveau Monde Graphite (NYSE:NMG) Trading Up 3.2% – Here’s Why

Nouveau Monde Graphite Inc. (NYSE:NMG)’s stock price shot up 3.2% on Friday . The company traded as high as $1.33 and last traded at $1.30. 33,383 shares changed hands during trading, a decline of 63% from the average session volume of 89,191 shares. The stock had previously closed at $1.26.

Analysts Set New Price Targets

Separately, HC Wainwright decreased their price target on Nouveau Monde Graphite from $3.25 to $3.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th.

Nouveau Monde Graphite Stock Performance

The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.85 and a current ratio of 1.85. The company has a market cap of $146.35 million, a P/E ratio of -2.03 and a beta of 0.84. The stock’s fifty day moving average price is $1.46 and its two-hundred day moving average price is $1.70.

Nouveau Monde Graphite (NYSE:NMG) last released its earnings results on Wednesday, August 14th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.03. As a group, equities analysts predict that Nouveau Monde Graphite Inc. will post -0.52 earnings per share for the current year.

Institutional Trading of Nouveau Monde Graphite

An institutional investor recently raised its position in Nouveau Monde Graphite stock. National Bank of Canada FI grew its position in Nouveau Monde Graphite Inc. (NYSE:NMG) by 6.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 124,610 shares of the company’s stock after acquiring an additional 7,871 shares during the period. National Bank of Canada FI owned 0.11% of Nouveau Monde Graphite worth $196,000 as of its most recent filing with the SEC. Institutional investors own 41.09% of the company’s stock.

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.