Graphite One (CVE:GPH) Shares Up 19% – Here’s What Happened

Graphite One Inc. (CVE:GPH) was up 19% during mid-day trading on Wednesday . The company traded as high as C$1.75 and last traded at C$1.44. Approximately 1,197,604 shares traded hands during trading, an increase of 417% from the average daily 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 price objective on shares of Graphite One and gave the company a “buy” rating in a report on Tuesday, October 14th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Graphite One currently has an average rating of “Buy” and a consensus price target of C$2.85.

Graphite One Stock Up 19.0%

The firm has a market capitalization of C$231.92 million, a P/E 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 business’s fifty day moving average price is C$1.15 and its two-hundred 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.