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

Nouveau Monde Graphite Inc. (NYSE:NMG)’s stock price shot up 3.2% 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 Upgrades and Downgrades

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

Nouveau Monde Graphite Stock Up 3.2 %

The firm has a 50 day moving average of $1.46 and a 200 day moving average of $1.70. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.85 and a current ratio of 1.85.

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in Nouveau Monde Graphite stock. National Bank of Canada FI grew its position in shares of Nouveau Monde Graphite Inc. (NYSE:NMG) by 6.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 124,610 shares of the company’s stock after buying an additional 7,871 shares during the quarter. National Bank of Canada FI owned 0.11% of Nouveau Monde Graphite worth $196,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other 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.