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

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

Analysts Set New Price Targets

Separately, Fundamental Research set a C$2.85 target price 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.com, Graphite One presently has a consensus rating of “Buy” and a consensus target price of C$2.85.

Graphite One Stock Performance

The firm’s 50-day moving average price is C$1.15 and its 200-day moving average price is C$0.94. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.09 and a quick ratio of 0.33. The stock has a market cap of C$231.92 million, a P/E ratio of -24.00 and a beta of 1.34.

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.