Graphite One (CVE:GPH) Trading Down 10.3% – Here’s What Happened

Graphite One Inc. (CVE:GPH) shares dropped 10.3% during mid-day trading on Tuesday . The stock traded as low as C$1.12 and last traded at C$1.13. Approximately 774,054 shares were traded during mid-day trading, an increase of 248% from the average daily volume of 222,172 shares. The stock had previously closed at C$1.26.

Analysts Set New Price Targets

Separately, Fundamental Research set a C$2.85 price objective on shares of Graphite One and gave the stock 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, the stock presently has an average 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$1.06 and its two-hundred day moving average price is C$0.92. The firm has a market capitalization of C$181.99 million, a PE ratio of -18.83 and a beta of 1.34. The company has a quick ratio of 0.33, a current ratio of 1.09 and a debt-to-equity ratio of 0.02.

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.