Roth MKM Sticks to Their Buy Rating for Nouveau Monde Mining (NOU)

In a report released yesterday, Joseph Reagor from Roth MKM maintained a Buy rating on Nouveau Monde Mining, with a price target of $4.70. The company’s shares closed yesterday at C$4.35.

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Reagor covers the Basic Materials sector, focusing on stocks such as Nouveau Monde Mining, E3 Lithium, and Avino Silver & Gold. According to TipRanks, Reagor has an average return of 23.6% and a 52.52% success rate on recommended stocks.

Nouveau Monde Mining has an analyst consensus of Strong Buy, with a price target consensus of C$7.36, which is a 69.20% upside from current levels. In a report released on November 3, National Bank also upgraded the stock to a Buy with a C$5.00 price target.

Based on Nouveau Monde Mining’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of C$8.06 million.

Based on the recent corporate insider activity of 19 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NOU in relation to earlier this year.