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

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

Analyst Upgrades and Downgrades

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

Graphite One Stock Performance

The stock’s 50-day moving average price is C$1.15 and its 200 day moving average price is C$0.94. The firm has a market cap of C$231.92 million, a P/E ratio of -24.00 and a beta of 1.34. 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.