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

Graphite One Inc. (CVE:GPH) rose 19% during trading on Wednesday . The company traded as high as C$1.75 and last traded at C$1.44. Approximately 1,197,604 shares were traded during mid-day trading, an increase of 417% from the average daily volume of 231,758 shares. The stock had previously closed at C$1.21.

Analyst Upgrades and Downgrades

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

Graphite One Trading Up 19.0%

The company’s fifty day simple moving average is C$1.15 and its 200-day simple moving average is C$0.94. The firm has a market capitalization of C$231.92 million, a PE ratio of -24.00 and a beta of 1.34. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.09 and a quick ratio of 0.33.

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.