Graphite One (CVE:GPH) Stock Price Down 27.1% - Here's What Happened

Key Points

• Graphite One Inc. shares experienced a sharp decline of 27.1%, trading as low as C$1.45, with a significant increase in trading volume compared to the average.
• Despite the recent drop, Fundamental Research has set a target price of C$2.85, maintaining a "buy" rating for the stock.
• The company has a market capitalization of C$260.91 million and operates as a mineral exploration company with interests in the Graphite Creek property in Alaska.

Graphite One Inc. (CVE:GPH - Get Free Report) shares fell 27.1% during mid-day trading on Wednesday . The company traded as low as C$1.45 and last traded at C$1.48. 1,381,599 shares changed hands during trading, an increase of 643% from the average session volume of 186,032 shares. The stock had previously closed at C$2.03.

Wall Street Analyst Weigh In

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

Graphite One Stock Performance

The stock has a market capitalization of C$260.91 million, a P/E ratio of -27.00 and a beta of 1.40. The company has a 50 day simple moving average of C$0.94 and a 200-day simple moving average of C$0.87. 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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