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

Key Points

• Graphite One Inc. shares dropped by 20.2% on Wednesday, trading as low as C$1.44 before recovering slightly to C$1.62.
• Analysts from Fundamental Research have set a C$2.85 target price for the stock, maintaining a "buy" rating amidst its recent decline.
• The company has a market cap of C$260.91 million and operates primarily in mineral exploration in the U.S., holding interests in the Graphite Creek property in Alaska.

Graphite One Inc. (CVE:GPH - Get Free Report) dropped 20.2% during mid-day trading on Wednesday . The stock traded as low as C$1.44 and last traded at C$1.62. Approximately 1,717,677 shares changed 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.

Analyst Ratings Changes

Separately, Fundamental Research set a C$2.85 price target on shares of Graphite One and gave the stock a "buy" rating in a report on Tuesday. One 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 target price of C$2.85.

Graphite One Stock Down 20.2%

The firm's 50-day moving average price is C$0.95 and its 200 day moving average price is C$0.88. The firm has a market capitalization of C$260.91 million, a price-to-earnings ratio of -27.00 and a beta of 1.40. 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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