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

Shares of Graphite One Inc. (CVE:GPH) rose 19% during trading on Wednesday . The stock traded as high as C$1.75 and last traded at C$1.44. Approximately 1,197,604 shares were traded during mid-day 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 Analysts Forecast Growth

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

Graphite One Stock Up 19.0%

The firm has a 50 day simple moving average of C$1.15 and a two-hundred day simple moving average of C$0.94. The company has a market capitalization of C$231.92 million, a PE ratio of -24.00 and a beta of 1.34. The company has a current ratio of 1.09, a quick ratio of 0.33 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.