What is Nouveau Monde Graphite Inc's Shariah compliance score?

Nouveau Monde Graphite Inc (NMG) has a Shariah compliance score of 0/100 (Grade: F, Non-Compliant). AAOIFI Standard No. 21 requires: (1) no primary involvement in prohibited activities like alcohol, gambling, or conventional banking, (2) debt-to-market-cap below 30%, (3) interest-bearing deposits below 30%, and (4) prohibited income below 5%.

Does Nouveau Monde Graphite Inc pass AAOIFI screening?

Nouveau Monde Graphite Inc (NMG) does not pass AAOIFI Shariah screening. AAOIFI Standard No. 21 requires: (1) no primary involvement in prohibited activities like alcohol, gambling, or conventional banking, (2) debt-to-market-cap below 30%, (3) interest-bearing deposits below 30%, and (4) prohibited income below 5%. NMG's debt-to-market-cap is 4.0%.

How much purification is needed for Nouveau Monde Graphite Inc?

Muslim investors purify the portion of dividends and realized gains that comes from non-permissible income by donating it to charity. HalalScreener's purification calculator at halalscreener.app/en/purification computes the percentage and amount for Nouveau Monde Graphite Inc (NMG) using the latest financial data.

Where can I screen Nouveau Monde Graphite Inc for Shariah compliance for free?

HalalScreener (halalscreener.app) offers free Shariah compliance screening for Nouveau Monde Graphite Inc (NMG) and 8,200+ securities. US-listed stocks and ETFs are screened under AAOIFI Standard No. 21. Bursa Malaysia securities carry the Securities Commission Malaysia's official status. Coins are screened separately, under published scholarly opinion. The verdict is free, with no credit card or signup required for basic screening. The compliance grade, score, and debt ratio are free too; the full ratio breakdown is part of Pro.

NMGNot HalalF

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Compliance Status

Not Halal

Screened on Oct 15, 2026 · AAOIFI Standard 21

Non-Compliant

0Score

Is Nouveau Monde Graphite Inc (NMG) halal? Not Halal. Based on AAOIFI screening, Nouveau Monde Graphite Inc passes the business activity screen but fails financial ratio screens with a compliance score of 0/100 (Grade: F).

Quote this verdict

HalalScreener rates Nouveau Monde Graphite Inc (NMG) Not Halal, 0/100, grade F under AAOIFI Standard 21, screened Oct 15, 2026. Source: https://halalscreener.app/en/stock/NMG

AvoidBorderlineClean

Business activity

What the company sells is permissible.

Passed

Company debt

Well clear of the limit

How much the company borrows, compared to its total value. AAOIFI allows up to 30%.

4.0% of 30.0% limit

PRO DETAIL

The verdict above is final and free.

Pro members can verify every number behind it: interest-bearing deposits, prohibited income breakdown, and the full AAOIFI math.

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Screened according to AAOIFI Standard 21

What this means for you

Most scholars advise not holding NMG

It does not pass AAOIFI Shariah screening.

See halal alternatives from the same sector further down this page

NMG: Is Nouveau Monde Graphite Inc Halal?

Nouveau Monde Graphite Inc

NYSEBasic MaterialsCA

$0.94

Market Cap: 310.9M

Screened on a market cap of 493.3M

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About Nouveau Monde Graphite Inc

Nouveau Monde Graphite Inc. (NMG) is a Canadian enterprise primarily focused on the acquisition, investigation, growth, and assessment of mineral resources within Canada. The company's main exploratory efforts are directed towards unearthing graphite. A significant asset for the firm is its flagship Matawinie property, an expansive site encompassing 392 mining claims across 21,750 hectares, strategically located just north of Montreal, Quebec. Beyond its core mineral operations, the company also engages in real estate and commercial trading. Established in 2011, the organization operated under the name Nouveau Monde Mining Enterprises Inc. until February 2017, when it adopted its current designation. Its principal office is situated in Saint-Michel-des-Saints, Canada.

Sector: Basic Materials · Industry: Industrial Materials

Why this does not pass

Interest-bearing deposits are over the 30% limit.

Screened under AAOIFI Standard 21. The exact figure behind this is part of Pro; the failing check and its limit are always free.

Shariah Compliance Status

AAOIFI Standard 21Updated Oct 15, 2026

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PRO DETAIL

The verdict above is final and free.

Pro members can verify every number behind it: interest-bearing deposits, prohibited income breakdown, and the full AAOIFI math.

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Screened according to AAOIFI Standard 21

Compliance History

Not Halalnow
since Sep 2026
Under Review
until the change above
Halal
until the change above
Under Review
until the change above
Halal
until the change above

Tracked since May 2026. Updates automatically on each re-screen.

Fiscal: Q2 2026Data source: FMP

Halal Alternatives in Basic Materials

This stock is not Shariah-compliant. Here are halal alternatives from the same sector, ranked by compliance score:

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$0.28

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0381.KLA+

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$0.19

+0.03%

0385.KLA+

BMS

$0.13

-0.04%

3441.KLA+

Johan Holdings Berhad

$0.03

+0.25%

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Frequently Asked Questions

Is Nouveau Monde Graphite Inc (NMG) halal to invest in?

Nouveau Monde Graphite Inc (NMG) is rated Not Halal under AAOIFI Standard 21 screening. It fails either the business activity screen (primary involvement in prohibited sectors such as conventional banking, alcohol, or gambling) or one of the quantitative financial ratio thresholds. Muslim investors should avoid or exit this position.

Why did Nouveau Monde Graphite Inc get a F compliance rating?

Nouveau Monde Graphite Inc (NMG) received a grade of F (Non-Compliant) based on three AAOIFI Standard 21 financial ratios: debt-to-market-cap of 4.0% (limit 30%). The grade reflects the margin of safety across all three ratios relative to their thresholds.

What could change Nouveau Monde Graphite Inc's Shariah verdict?

Nouveau Monde Graphite Inc's verdict is re-evaluated at each annual re-screen. Three events could change it: (1) the debt-to-market-cap ratio crossing 30%, typically from new debt issuance or a major drop in share price; (2) interest-bearing deposits exceeding 30% of market cap; or (3) prohibited revenue (alcohol, gambling, conventional finance, etc.) exceeding 5% of total revenue. Verdict flips are tracked in the compliance history section above.

How often is Nouveau Monde Graphite Inc re-screened for Shariah compliance?

Nouveau Monde Graphite Inc (NMG) is re-screened annually using the most recent full-year financial data from SEC filings. HalalScreener also triggers an on-demand re-screen whenever the stored data is more than 7 days old, ensuring the ratios reflect the latest available financial statements. Last screened: Oct 15, 2026.

Screened according to AAOIFI Standard No. 21 · For informational purposes only. Consult a qualified Islamic finance advisor before investing.

Disclaimer: This screening is for informational purposes only and does not constitute financial, legal, or religious advice. Compliance is evaluated using AAOIFI financial standards (debt, deposits, and prohibited income ratios) and publicly available data. Ethical, political, social, or environmental considerations are outside the scope of this screening. Individual scholars and methodologies may differ. Always consult a qualified Islamic finance advisor before making investment decisions.