Graphite One (CVE:GPH) Stock Price Up 19% – Time to Buy?

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

Analysts Set New Price Targets

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

Graphite One Price Performance

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 has a market cap of C$231.92 million, a P/E ratio of -24.00 and a beta of 1.34. The firm has a 50 day moving average price of C$1.15 and a two-hundred day moving average price of C$0.94.

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.