Northern Graphite (CVE:NGC) Shares Up 37.3% – Should You Buy?

Shares of Northern Graphite Co. (CVE:NGC) shot up 37.3% on Wednesday . The company traded as high as C$0.35 and last traded at C$0.35. 1,896,047 shares changed hands during trading, an increase of 179% from the average session volume of 680,479 shares. The stock had previously closed at C$0.26.

Northern Graphite Price Performance

The company has a market capitalization of C$52.32 million, a price-to-earnings ratio of -1.48 and a beta of -0.32. The company has a quick ratio of 0.91, a current ratio of 0.35 and a debt-to-equity ratio of 318.09. The stock’s 50-day moving average price is C$0.19 and its 200-day moving average price is C$0.16.

Northern Graphite Company Profile

Northern Graphite Corporation engages in the acquisition, exploration, development, and production of graphite and other battery mineral properties in North America. The company holds 100% interests in the Bissett Creek graphite project located in southern Canada, which comprises Ontario mining lease number 109550 covering 565 hectares, and Ontario mining lease number 109335 covering 1,938 hectares; Lac-des-Îles graphite mine in Quebec; and the Mousseau West graphite project located in Quebec. It also has an option to earn up to an 80% interest in the South Okak nickel-copper-cobalt project located southeast of Voisey's Bay, Labrador.