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

Graphite One Inc. (CVE:GPH) shares traded up 19% on Wednesday . The company traded as high as C$1.75 and last traded at C$1.44. 1,197,604 shares were traded 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 shares of Graphite One and gave the company a “buy” rating in a report on Tuesday, October 14th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of C$2.85.

Graphite One Stock 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 firm has a market capitalization of C$267.41 million, a P/E ratio of -25.83 and a beta of 1.34. The stock has a fifty day moving average of C$1.19 and a 200-day moving average of C$0.95.

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.