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

Key Points

• Graphite One Inc. shares plummeted by 27.1% during trading, dropping to as low as C$1.45, with a significant trading volume increase of 643% compared to the average.
• Despite the drop, analysts from Fundamental Research have set a price target of C$2.85 on the stock, maintaining a "buy" rating amidst the decline.
• The company's current market capitalization stands at C$260.91 million with a PE ratio of -27.00, indicating financial challenges as it operates in the mineral exploration sector in the U.S.

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

Analysts Set New Price Targets

Separately, Fundamental Research set a C$2.85 price objective on shares of Graphite One and gave the company 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 a consensus rating of "Buy" and an average target price of C$2.85.

Graphite One Stock Down 20.2%

The company has a market capitalization of C$260.91 million, a PE ratio of -27.00 and a beta of 1.40. The firm's 50-day simple moving average is C$0.94 and its 200 day simple moving average is C$0.87. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.33 and a current ratio of 1.09.

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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