Graphite One (CVE:GPH) Trading Up 19% – Here’s Why

Graphite One Inc. (CVE:GPH)’s stock price shot up 19% on Tuesday . 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 price objective on shares of Graphite One and gave the company a “buy” rating in a research report on Tuesday, October 14th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of C$2.85.

Graphite One Stock Up 19.0%

The company’s 50 day moving average price is C$1.15 and its two-hundred day moving average price is C$0.94. The company has a current ratio of 1.09, a quick ratio of 0.33 and a debt-to-equity ratio of 0.02. The firm has a market cap of C$231.92 million, a PE ratio of -24.00 and a beta of 1.34.

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.