Nouveau Monde Graphite (NYSE:NMG) Trading 11% Higher – Time to Buy?

Nouveau Monde Graphite Inc. (NYSE:NMG)’s share price was up 11% on Tuesday . The stock traded as high as $2.57 and last traded at $2.33. Approximately 472,271 shares traded hands during trading, an increase of 69% from the average daily volume of 278,942 shares. The stock had previously closed at $2.10.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a “buy” rating and issued a $3.00 target price on shares of Nouveau Monde Graphite in a research note on Tuesday, December 17th.

Nouveau Monde Graphite Trading Up 11.0 %

The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.02. The company has a market cap of $262.31 million, a P/E ratio of -3.64 and a beta of 0.67. The business has a 50-day moving average price of $1.43 and a two-hundred day moving average price of $1.54.

Institutional Investors Weigh In On Nouveau Monde Graphite

An institutional investor recently raised its position in Nouveau Monde Graphite stock. National Bank of Canada FI grew its stake in shares of Nouveau Monde Graphite Inc. (NYSE:NMG) by 6.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 124,610 shares of the company’s stock after buying an additional 7,871 shares during the period. National Bank of Canada FI owned approximately 0.11% of Nouveau Monde Graphite worth $196,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors 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.