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

Graphite One Inc. (CVE:GPH)’s stock price shot up 19% during mid-day trading on Wednesday . The company traded as high as C$1.75 and last traded at C$1.44. 1,197,604 shares changed hands during trading, an increase of 417% from the average session volume of 231,758 shares. The stock had previously closed at C$1.21.

Analysts Set New Price Targets

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

Graphite One Trading Up 19.0%

The firm has a market capitalization of C$231.92 million, a price-to-earnings ratio of -24.00 and a beta of 1.34. The business’s 50-day moving average price is C$1.15 and its 200 day moving average price is C$0.94. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.09 and a quick ratio of 0.33.

Graphite One Company Profile

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.