Graphite One (CVE:GPH) Shares Down 17.3% - Here's Why

Key Points

• Graphite One Inc. shares fell by 17.3% during trading, closing at C$1.10, with a significant increase in trading volume to about 1.2 million shares.
• Despite the decline, Fundamental Research has set a target price of C$2.85 and maintained a "buy" rating for the company.
• Graphite One is engaged in mineral exploration in the U.S. and holds interests in the Graphite Creek property in Alaska, contributing to a market cap of C$185.21 million.

Graphite One Inc. (CVE:GPH - Get Free Report) was down 17.3% during trading on Wednesday . The company traded as low as C$1.06 and last traded at C$1.10. Approximately 1,207,007 shares traded hands during trading, an increase of 472% from the average daily volume of 210,910 shares. The stock had previously closed at C$1.33.

Analyst Ratings Changes

Separately, Fundamental Research set a C$2.85 target price on 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, According to MarketBeat, Graphite One presently has a consensus rating of "Buy" and an average price target of C$2.85.

Graphite One Stock Performance

The company has a market capitalization of C$185.21 million, a P/E ratio of -19.17 and a beta of 1.40. The business has a 50-day moving average of C$0.99 and a 200-day moving average of C$0.90. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.09 and a quick ratio of 0.33.

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.

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