Graphite One (CVE:GPH) Trading Up 19% – Should You Buy?

Graphite One Inc. (CVE:GPH) shares shot up 19% on Wednesday . The company 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 Analysts Forecast Growth

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

Graphite One Trading Up 19.0%

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 firm has a market capitalization of C$231.92 million, a PE ratio of -24.00 and a beta of 1.34. The business’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.