Graphite One (CVE:GPH) Shares Down 3% – Here’s Why

Graphite One Inc. (CVE:GPH)’s stock price fell 3% during mid-day trading on Wednesday . The company traded as low as C$1.54 and last traded at C$1.60. 464,058 shares were traded during mid-day trading, an increase of 12% from the average session volume of 412,588 shares. The stock had previously closed at C$1.65.

Analysts Set New Price Targets

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

Graphite One Stock Performance

The company has a market cap of C$299.50 million, a price-to-earnings ratio of -27.50 and a beta of 1.73. 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 business’s 50 day moving average price is C$1.97 and its 200-day moving average price is C$1.40.

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. Graphite One Inc was incorporated in 2006 and is headquartered in Vancouver, Canada.