Graphite One (CVE:GPH) Trading 22.9% Higher – Here’s What Happened

Graphite One Inc. (CVE:GPH)’s stock price was up 22.9% during trading on Wednesday . The company traded as high as C$1.84 and last traded at C$1.77. Approximately 746,380 shares changed hands during mid-day trading, an increase of 219% from the average daily volume of 234,043 shares. The stock had previously closed at C$1.44.

Analysts Set New Price Targets

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

Graphite One Price Performance

The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.33 and a current ratio of 1.09. The company has a market capitalization of C$291.51 million, a P/E ratio of -30.17 and a beta of 1.34. The firm’s fifty day moving average is C$1.15 and its 200 day moving average is C$0.94.

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.