Graphite One (CVE:GPH) Trading Down 20.2% - Should You Sell?

Key Points

• Graphite One Inc. (CVE:GPH) shares plummeted by 20.2% on Wednesday, trading as low as C$1.44 before recovering to C$1.62, with a significant increase in trading volume.
• Despite the drop, analysts from Fundamental Research set a price target of C$2.85 for the stock, maintaining a "buy" rating amid overall positive sentiment with a consensus rating of "Buy."
• The company has a market cap of C$260.91 million and operates mineral exploration initiatives in Alaska, holding significant interest in the Graphite Creek property.

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

Analysts Set New Price Targets

Separately, Fundamental Research set a C$2.85 target price on Graphite One and gave the stock a "buy" rating in a research note on Tuesday. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of C$2.85.

Graphite One Stock Down 20.2%

The firm has a 50 day simple moving average of C$0.95 and a two-hundred day simple moving average of C$0.88. 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 stock has a market capitalization of C$260.91 million, a P/E 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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