Graphite One (CVE:GPH) Stock Price Down 15% - Here's What Happened

Key Points

• Graphite One Inc. (CVE:GPH) shares fell by 15% to C$1.13 during trading, with trading volume significantly increased at 628,459 shares.
• Fundamental Research recently set a price target of C$2.85 for Graphite One, maintaining a "buy" rating, with a consensus rating also indicating a buy.
• The company, which specializes in mineral exploration in Alaska, has a market capitalization of C$178.77 million and a PE ratio of -18.50.

Graphite One Inc. (CVE:GPH - Get Free Report) shares were down 15% during trading on Wednesday . The stock traded as low as C$1.13 and last traded at C$1.13. Approximately 628,459 shares changed hands during mid-day trading, an increase of 202% from the average daily volume of 208,197 shares. The stock had previously closed at C$1.33.

Analyst Upgrades and Downgrades

Separately, Fundamental Research set a C$2.85 price objective 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, According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of C$2.85.

Graphite One Stock Performance

The company has a market capitalization of C$178.77 million, a PE ratio of -18.50 and a beta of 1.40. The business's fifty day moving average is C$0.99 and its two-hundred day moving average is C$0.90. The company has a current ratio of 1.09, a quick ratio of 0.33 and a debt-to-equity ratio of 0.02.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.