Graphite One (CVE:GPH) Shares Down 20.2% - What's Next?

Key Points

• Graphite One Inc. (CVE:GPH) shares dropped by 20.2%, closing at C$1.62 after trading as low as C$1.44 amidst a significant increase in trading volume.
• Despite the dip, analysts from Fundamental Research have set a target price of C$2.85 and maintain a "buy" rating for the stock.
• The company operates the Graphite Creek property in Alaska and currently has a market cap of C$260.91 million.

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

Wall Street Analysts Forecast Growth

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, According to data from MarketBeat.com, Graphite One presently has an average rating of "Buy" and a consensus target price of C$2.85.

Graphite One Stock Down 20.2%

The firm has a 50 day moving average price of C$0.95 and a 200-day moving average price of C$0.88. 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 firm has a market cap of C$260.91 million, a PE ratio of -27.00 and a beta of 1.40.

Graphite One Company Profile

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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