Roth Capital Has Optimistic Outlook of NMG FY2024 Earnings

Nouveau Monde Graphite Inc. (NYSE:NMG - Free Report) - Analysts at Roth Capital increased their FY2024 earnings estimates for shares of Nouveau Monde Graphite in a research report issued to clients and investors on Wednesday, March 26th. Roth Capital analyst J. Reagor now anticipates that the company will earn ($0.41) per share for the year, up from their previous forecast of ($0.46). The consensus estimate for Nouveau Monde Graphite's current full-year earnings is ($0.47) per share. Roth Capital also issued estimates for Nouveau Monde Graphite's Q4 2024 earnings at ($0.06) EPS, Q2 2025 earnings at ($0.04) EPS, Q3 2025 earnings at ($0.04) EPS and FY2025 earnings at ($0.16) EPS.

Nouveau Monde Graphite (NYSE:NMG - Get Free Report) last issued its earnings results on Monday, March 31st. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.08).

A number of other analysts have also weighed in on NMG. Roth Mkm cut their price objective on Nouveau Monde Graphite from $3.00 to $2.40 and set a "buy" rating on the stock in a research report on Wednesday, March 26th. HC Wainwright reduced their price objective on shares of Nouveau Monde Graphite from $3.00 to $2.75 and set a "buy" rating for the company in a research report on Tuesday.

Nouveau Monde Graphite Trading Up 0.7 %

Shares of NYSE:NMG traded up $0.01 during mid-day trading on Friday, reaching $1.52. 24,104 shares of the company were exchanged, compared to its average volume of 88,007. The firm has a market cap of $171.12 million, a price-to-earnings ratio of -2.38 and a beta of 0.78. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.74 and a quick ratio of 1.74. Nouveau Monde Graphite has a 1 year low of $1.22 and a 1 year high of $2.57. The firm's 50-day simple moving average is $1.79 and its 200 day simple moving average is $1.62.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. SBI Securities Co. Ltd. acquired a new stake in Nouveau Monde Graphite in the 4th quarter valued at about $26,000. Millennium Management LLC increased its holdings in shares of Nouveau Monde Graphite by 51.9% during the 4th quarter. Millennium Management LLC now owns 47,755 shares of the company's stock worth $76,000 after buying an additional 16,312 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Nouveau Monde Graphite by 46.2% in the 4th quarter. Bank of Montreal Can now owns 48,430 shares of the company's stock worth $76,000 after purchasing an additional 15,300 shares during the period. Quinn Opportunity Partners LLC raised its holdings in Nouveau Monde Graphite by 207.7% in the fourth quarter. Quinn Opportunity Partners LLC now owns 74,068 shares of the company's stock valued at $118,000 after buying an additional 50,000 shares during the period. Finally, National Bank of Canada FI raised its stake in shares of Nouveau Monde Graphite by 6.7% in the 3rd quarter. National Bank of Canada FI now owns 124,610 shares of the company's stock valued at $196,000 after acquiring an additional 7,871 shares during the period. 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.