Graphite One (CVE:GPH) Trading Up 19% – Still a Buy?

Graphite One Inc. (CVE:GPH) shares 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 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.

Wall Street Analysts Forecast Growth

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

Graphite One Price 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 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 price-to-earnings ratio of -24.00 and a beta of 1.34.

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.