Northern Graphite (CVE:NGC) Stock Price Up 35.3% – Here’s What Happened

Northern Graphite Co. (CVE:NGC)’s stock price rose 35.3% during mid-day trading on Wednesday . The company traded as high as C$0.35 and last traded at C$0.35. Approximately 1,924,047 shares traded hands during trading, an increase of 183% from the average daily volume of 680,479 shares. The stock had previously closed at C$0.26.

Northern Graphite Price Performance

The stock’s 50-day simple moving average is C$0.19 and its 200 day simple moving average is C$0.16. The company has a quick ratio of 0.91, a current ratio of 0.35 and a debt-to-equity ratio of 318.09. The company has a market cap of C$52.32 million, a price-to-earnings ratio of -1.48 and a beta of -0.32.

Northern Graphite Company Profile

Northern Graphite Corporation engages in the acquisition, exploration, development, and production of graphite and other battery mineral properties in North America. The company holds 100% interests in the Bissett Creek graphite project located in southern Canada, which comprises Ontario mining lease number 109550 covering 565 hectares, and Ontario mining lease number 109335 covering 1,938 hectares; Lac-des-Îles graphite mine in Quebec; and the Mousseau West graphite project located in Quebec. It also has an option to earn up to an 80% interest in the South Okak nickel-copper-cobalt project located southeast of Voisey's Bay, Labrador.