Nouveau Monde Graphite: Buy Rating Reaffirmed as Project Milestones Advance and $6 Price Target Remains Unchanged
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Analyst Tate Sullivan of Maxim Group has reaffirmed a Buy rating on Nouveau Monde Mining, maintaining a price target of $6.00. Despite a larger EBITDA loss in Q1, project milestones are advancing, and funding is strengthened. Construction has begun at the Matawinie mine, with final investment decisions expected in 2026. Sullivan notes substantial equity financings, which should provide the company with cash and modest debt, supporting the long-term value of its graphite assets.
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