Graphite One (CVE:GPH) Trading 19% Higher – Here’s Why

Graphite One Inc. (CVE:GPH) was up 19% during trading on Wednesday . The stock traded as high as C$1.75 and last traded at C$1.44. Approximately 1,197,604 shares traded hands during trading, an increase of 417% from the average daily volume of 231,758 shares. The stock had previously closed at C$1.21.

Wall Street Analysts Forecast Growth

Separately, Fundamental Research set a C$2.85 target price on shares of Graphite One and gave the stock a “buy” rating in a research report on Tuesday, October 14th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Graphite One has an average rating of “Buy” and an average price target of C$2.85.

Graphite One Stock Performance

The company has a quick ratio of 0.33, a current ratio of 1.09 and a debt-to-equity ratio of 0.02. The company has a market capitalization of C$231.92 million, a PE ratio of -24.00 and a beta of 1.34. The company has a 50-day moving average price of C$1.15 and a two-hundred day moving average price of C$0.94.

About Graphite One

Graphite One Inc operates as mineral exploration company in the United States. The company holds interest in the Graphite Creek property that consists of 135 mining claims located on the Seward Peninsula, Alaska. The company was formerly known as Graphite One Resources Inc and changed its name to Graphite One Inc in February 2019.