Graphite One (CVE:GPH) Shares Up 32.2% – Here’s Why

Shares of Graphite One Inc. (CVE:GPH) rose 32.2% during mid-day trading on Tuesday . The company traded as high as C$1.75 and last traded at C$1.60. Approximately 1,080,832 shares changed hands during trading, an increase of 371% from the average daily volume of 229,440 shares. The stock had previously closed at C$1.21.

Wall Street Analyst Weigh In

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

Graphite One Stock Up 19.0%

The company has a market cap of C$231.92 million, a PE ratio of -24.00 and a beta of 1.34. The stock has a 50-day moving average of C$1.14 and a 200-day moving average of C$0.93. The company has a quick ratio of 0.33, a current ratio of 1.09 and a debt-to-equity ratio of 0.02.

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.