H.C. Wainwright analyst Heiko Ihle reiterated a Buy rating on Nouveau Monde Mining (NOU – Research Report) today and set a price target of $2.75.
Heiko Ihle has given his Buy rating due to a combination of factors, including Nouveau Monde Graphite’s progress toward its Final Investment Decision for the Matawinie Mine and Bécancour Battery Material Plant. The company has been actively engaging in detailed engineering and procurement activities, which are crucial steps in preparing for potential construction. This progress, along with the involvement of specialized consultants in graphite processing, positions the company well for future development.
Additionally, the updated feasibility studies for both the Matawinie Mine and Bécancour Battery Material Plant have shown promising financial metrics. The Matawinie Mine reported an after-tax NPV of $252.0M and an IRR of 16.0%, while the Bécancour Plant demonstrated an after-tax NPV of $801.0M and an IRR of 18.0%. Despite a reduction in the price target due to recent dilution, the overall valuation remains strong, supported by a DCF analysis and a solid balance sheet. These factors contribute to the reiterated Buy rating, reflecting confidence in the company’s strategic direction and financial prospects.
According to TipRanks, Ihle is a 4-star analyst with an average return of 7.0% and a 46.28% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Franco-Nevada, MAG Silver, and Galiano Gold.
In another report released on March 26, Roth MKM also maintained a Buy rating on the stock with a $2.40 price target.