Graphite One (CVE:GPH) Trading 23.6% Higher – Here’s Why

Graphite One Inc. (CVE:GPH)’s share price shot up 23.6% during mid-day trading on Wednesday . The stock traded as high as C$1.84 and last traded at C$1.78. 957,007 shares traded hands during trading, an increase of 308% from the average session volume of 234,738 shares. The stock had previously closed at C$1.44.

Analyst Ratings Changes

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

Graphite One Trading Up 20.1%

The stock has a market cap of C$278.62 million, a price-to-earnings ratio of -28.83 and a beta of 1.34. The business has a fifty day simple moving average of C$1.15 and a 200 day simple moving average of C$0.94. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.33 and a current ratio of 1.09.

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.