Graphite One (CVE:GPH) Stock Price Up 19% – Here’s Why

Graphite One Inc. (CVE:GPH)’s share price rose 19% during trading on Wednesday . The stock traded as high as C$1.75 and last traded at C$1.44. Approximately 1,197,604 shares were traded during trading, an increase of 417% from the average daily 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 target price on shares of Graphite One and gave the stock a “buy” rating in a research report on Tuesday, October 14th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average target price of C$2.85.

Graphite One Trading Up 19.0%

The stock has a 50-day moving average of C$1.15 and a two-hundred day moving average of C$0.94. The company 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 quick ratio of 0.33 and a current ratio of 1.09.

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.