Roth Capital Has Bullish Forecast for NMG FY2024 Earnings

Nouveau Monde Graphite Inc. (NYSE:NMG) – Equities researchers at Roth Capital raised their FY2024 earnings per share (EPS) estimates for Nouveau Monde Graphite in a report released on Wednesday, November 20th. Roth Capital analyst J. Reagor now forecasts that the company will post earnings of ($0.46) per share for the year, up from their prior forecast of ($0.50). The consensus estimate for Nouveau Monde Graphite’s current full-year earnings is ($0.50) per share. Roth Capital also issued estimates for Nouveau Monde Graphite’s Q4 2024 earnings at ($0.09) EPS, Q2 2025 earnings at ($0.05) EPS, Q3 2025 earnings at ($0.05) EPS, Q4 2025 earnings at ($0.05) EPS and FY2025 earnings at ($0.20) EPS.

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

Nouveau Monde Graphite Stock Up 0.8 %

NMG stock opened at $1.26 on Friday. Nouveau Monde Graphite has a fifty-two week low of $1.22 and a fifty-two week high of $3.13. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.74 and a quick ratio of 1.74. The stock has a market capitalization of $141.85 million, a price-to-earnings ratio of -1.97 and a beta of 0.84. The business’s fifty day moving average price is $1.45 and its two-hundred day moving average price is $1.67.

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 boosted 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 filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent reporting period. 41.09% of the stock is currently owned by hedge funds and other institutional investors.

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.