Nouveau Monde Graphite (NMG)
Develops a Québec chain from graphite mining to active anode materials.
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Develops a Québec graphite chain spanning the Matawinie Mine and Bécancour Battery Material Plant. Its phased model moves graphite concentrate toward active anode materials, with commercial buildout dependent on financing, customer agreements, permits, construction inputs, and infrastructure.
Mining projects include the Matawinie Mine and Uatnan Mining Project, while the Battery Material Plant project is intended to refine Matawinie graphite concentrate into active anode material at Bécancour. All activities are in Québec, linking mining and processing in one regional chain.
Operational demonstration facilities have supported engineering, permitting, process validation, product qualification, and operational know-how for commercial projects. Construction of the Matawinie Mine began after its final investment decision; the distinct Bécancour first-stage plant remained targeted for a later decision.
Commercial production requires additional financing, customer agreements, permits, construction inputs, and infrastructure.
Company facts
Target rangeAs of Sep 2, 2026
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Sep 2, 2026 | Jefferies | Initiate | Buy | ||
| May 21, 2026 | H.C. Wainwright | Target | $5.50 | $4.50 | |
| May 18, 2026 | Roth Capital | Target | $4.70 | $3.50 | |
| Jan 30, 2026 | H.C. Wainwright | Target | $7.50 | $5.50 | |
| Jan 20, 2026 | Maxim Group | Target | $6 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $334.3M · Total debt $14.3M · Total assets $440.6M · Shareholders' equity $355.2M
- Revenue
- $0
- Operating income
- −$9.6M
- Net income
- $6.8M
Reported in CAD, converted at the latest exchange rate
No dividends on record.
| Institutions57 holders · as of Mar 31, 2026 | 5.98% | 19.22M ADS | |
| Insiders1 holder · as of May 27, 2026 | 53.34% | 171.50M ADS | |
| Strategic holders1 holder · as of May 19, 2026 | 16.21% | 52.11M ADS | |
| Otherremainder | 24.47% | 78.70M ADS |
321.52M ADS (1 ADS = 1 ordinary shares) as of Sep 3, 2026 · institutions as of Mar 31, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Evidence |
|---|---|---|---|
Investissement QuebecInsider | 53.34% | 171.50M | 13Dfiled May 27, 2026 ↗ |
Mitsui & Co., Ltd.Strategic | 16.21% | 52.11M | 13Dfiled May 19, 2026 ↗ |
General Motors Holdings LLCInstitution | 3.89% | 12.50M ADS | 13Fas of Mar 31, 2026 |
Renaissance Technologies LLCInstitution | 0.45% | 1.43M ADS | 13Fas of Mar 31, 2026 |
Citadel Advisors LLCInstitution | 0.30% | 957,564 ADS | 13Fas of Mar 31, 2026 |
| See all 25 → | |||
13F — a manager's quarterly holdings · 13D/13G — an ownership statement filed at 5% or more
Insider tradesForm 4
Nothing filed in the last 12 months.
- Westwater Resources
U.S. mine-to-market coated spherical purified graphite developer
ComparePre-market
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Nouveau Monde Graphite | $1.46 | +2.03% | $470.6M | — | — | — | — |
| Westwater Resources | $0.5759 | −1.51% | $73.4M | — | — | — | — |