Nouveau Monde Graphite (NYSE:NMG) Trading 3.2% Higher – Should You Buy?

Nouveau Monde Graphite Inc. (NYSE:NMG) shares traded up 3.2% during mid-day trading on Friday . The stock 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.

Analyst Ratings Changes

Separately, HC Wainwright lowered 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 Price Performance

The stock’s 50-day simple moving average is $1.46 and its 200 day simple moving average is $1.70. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.02.

Nouveau Monde Graphite (NYSE:NMG) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.03. As a group, sell-side analysts anticipate that Nouveau Monde Graphite Inc. will post -0.52 earnings per share for the current fiscal year.

Institutional Trading of Nouveau Monde Graphite

A hedge fund recently raised its stake in Nouveau Monde Graphite stock. National Bank of Canada FI raised its holdings in Nouveau Monde Graphite Inc. (NYSE:NMG) by 6.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 about 0.11% of Nouveau Monde Graphite worth $196,000 at the end of the most recent quarter. 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.