Graphite One (CVE:GPH) Shares Up 19% – Here’s What Happened

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

Analyst Ratings Changes

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

Graphite One Trading Up 19.0%

The company has a current ratio of 1.09, a quick ratio of 0.33 and a debt-to-equity ratio of 0.02. The company has a market cap of C$231.92 million, a PE ratio of -24.00 and a beta of 1.34. The stock has a 50 day moving average price of C$1.15 and a 200 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.