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

Graphite One Inc. (CVE:GPH) shares rose 19% during mid-day 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.

Analyst Upgrades and Downgrades

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 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 Trading Up 19.0%

The firm has a market cap of C$231.92 million, a P/E ratio of -24.00 and a beta of 1.34. The stock has a fifty day simple moving average of C$1.15 and a 200 day simple moving average of C$0.94. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.33 and a current ratio of 1.09.

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.