FY2023 EPS Estimates for Nouveau Monde Graphite Inc. (NYSE:NMG) Reduced by B. Riley

Nouveau Monde Graphite Inc. (NYSE:NMG) – Equities researchers at B. Riley decreased their FY2023 EPS estimates for Nouveau Monde Graphite in a research report issued to clients and investors on Monday, November 13th. B. Riley analyst M. Key now anticipates that the company will post earnings per share of ($0.66) for the year, down from their prior estimate of ($0.60). The consensus estimate for Nouveau Monde Graphite’s current full-year earnings is ($0.64) per share. B. Riley also issued estimates for Nouveau Monde Graphite’s Q4 2023 earnings at ($0.16) EPS, FY2024 earnings at ($1.04) EPS and FY2025 earnings at ($0.78) EPS.

Separately, HC Wainwright lowered their price objective on Nouveau Monde Graphite from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Monday.

Nouveau Monde Graphite Trading Up 1.1 %

Shares of NMG stock opened at $2.67 on Wednesday. The business has a 50-day moving average of $2.49 and a 200 day moving average of $2.90. The company has a debt-to-equity ratio of 0.83, a current ratio of 5.48 and a quick ratio of 5.48. Nouveau Monde Graphite has a 1-year low of $1.85 and a 1-year high of $5.97. The stock has a market capitalization of $162.61 million, a PE ratio of -4.24 and a beta of 0.71.

Nouveau Monde Graphite (NYSE:NMG) last announced its earnings results on Wednesday, November 8th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.05).

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of NMG. Kestra Advisory Services LLC bought a new stake in shares of Nouveau Monde Graphite in the 3rd quarter worth approximately $268,000. Richelieu Gestion SA boosted its holdings in Nouveau Monde Graphite by 2.7% in the third quarter. Richelieu Gestion SA now owns 845,834 shares of the company’s stock valued at $2,233,000 after acquiring an additional 21,900 shares in the last quarter. Royal Bank of Canada increased its position in Nouveau Monde Graphite by 9.5% during the 2nd quarter. Royal Bank of Canada now owns 47,808 shares of the company’s stock valued at $145,000 after purchasing an additional 4,132 shares during the period. Luminus Management LLC bought a new position in Nouveau Monde Graphite in the 2nd quarter worth $760,000. Finally, Bank of Montreal Can purchased a new stake in shares of Nouveau Monde Graphite in the 2nd quarter worth about $1,521,000. Hedge funds and other institutional investors own 6.91% 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 Canada. It primarily explores for graphite. The company's holds interest in the Matawinie Mine Project and the Battery Material Plant project situated in the Montreal, Quebec.