Graphite One (CVE:GPH) Trading 19% Higher – Here’s What Happened

Shares of Graphite One Inc. (CVE:GPH) shot up 19% during mid-day trading on Wednesday . The stock traded as high as C$1.75 and last traded at C$1.44. 1,197,604 shares traded hands 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 Analyst Weigh In

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

Graphite One Stock Up 19.0%

The stock has a market cap 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 quick ratio of 0.33 and a current ratio of 1.09. The company’s 50-day moving average price is C$1.15 and its 200 day moving average price is C$0.94.

Graphite One Company Profile

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.