Nouveau Monde Graphite Inc [NYSE: NMG] jumped around 0.12 points on Thursday, while shares priced at $2.29 at the close of the session, up 5.53%. The company report on March 28, 2024 at 7:00 AM that NMG Provides Commercial and Operational Update upon Filing 2023 Financial Reports: Significant Progress over the Year in Advancing North America’s Mine-to-Battery-Material Graphite Production.
Multiyear offtakes and strategic investments from Panasonic Energy and GM covering approximately 85% of NMG’s planned Phase-2 fully integrated production of active anode material.
Aggregate combined investment of US$50 million by Panasonic and GM, with a private placement of US$37.5M by Mitsui & Co., Ltd (“Mitsui”) and Pallinghurst Bond Limited (“Pallinghurst”) to surrender and cancel their convertibles notes dated November 8, 2022, upon the vote of the shareholders of NMG in accordance with MI-61-101 and regulatory approvals.
Compared to the average trading volume of 195.29K shares, NMG reached a trading volume of 123525 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Nouveau Monde Graphite Inc [NMG]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NMG shares is $5.64 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NMG stock is a recommendation set at 1.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
H.C. Wainwright have made an estimate for Nouveau Monde Graphite Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 08, 2023. While these analysts kept the previous recommendation, B. Riley Securities raised their target price from $15 to $7. The new note on the price target was released on October 27, 2022, representing the official price target for Nouveau Monde Graphite Inc stock.
The Average True Range (ATR) for Nouveau Monde Graphite Inc is set at 0.13 The Price to Book ratio for the last quarter was 2.76, with the Price to Cash per share for the same quarter was set at 0.39.
How has NMG stock performed recently?
Nouveau Monde Graphite Inc [NMG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.62. With this latest performance, NMG shares dropped by -10.20% in over the last four-week period, additionally plugging by 0.44% over the last 6 months – not to mention a drop of -50.43% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NMG stock in for the last two-week period is set at 48.51, with the RSI for the last a single of trading hit 51.23, and the three-weeks RSI is set at 48.17 for Nouveau Monde Graphite Inc [NMG]. The present Moving Average for the last 50 days of trading for this stock 2.30, while it was recorded at 2.19 for the last single week of trading, and 2.60 for the last 200 days.
Nouveau Monde Graphite Inc [NMG]: Deeper insight into the fundamentals
Nouveau Monde Graphite Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.48 and a Current Ratio set at 5.48.
Earnings analysis for Nouveau Monde Graphite Inc [NMG]
With the latest financial reports released by the company, Nouveau Monde Graphite Inc posted -0.17/share EPS, while the average EPS was predicted by analysts to be reported at -0.13/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -30.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NMG.
Insider trade positions for Nouveau Monde Graphite Inc [NMG]
The top three institutional holders of NMG stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in NMG stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in NMG stock with ownership which is approximately 5.8325%.
