Graphite One (CVE:GPH) Shares Down 20.2% - Here's What Happened

Key Points

• Graphite One Inc. shares dropped by 20.2% during mid-day trading, closing at C$1.62 after hitting a low of C$1.44.
• Despite the decline, Fundamental Research set a buy rating with a price target of C$2.85, indicating market confidence in the stock.
• The company's market capitalization stands at C$260.91 million, with a price-to-earnings ratio of -27.00 and a quick ratio of 0.33.

Graphite One Inc. (CVE:GPH - Get Free Report) fell 20.2% during mid-day trading on Thursday . The stock traded as low as C$1.44 and last traded at C$1.62. 1,717,677 shares changed hands during mid-day trading, an increase of 814% from the average session volume of 187,935 shares. The stock had previously closed at C$2.03.

Analyst Upgrades and Downgrades

Separately, Fundamental Research set a C$2.85 price target on Graphite One and gave the stock a "buy" rating in a research report on Tuesday. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of C$2.85.

Graphite One Price Performance

The company has a quick ratio of 0.33, a current ratio of 1.09 and a debt-to-equity ratio of 0.02. The company has a market cap of C$260.91 million, a price-to-earnings ratio of -27.00 and a beta of 1.40. The stock's 50-day simple moving average is C$0.95 and its 200 day simple moving average is C$0.88.

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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