Northern Graphite (CVE:NGC) Trading 21.6% Higher – Still a Buy?

Northern Graphite Co. (CVE:NGC) shares were up 21.6% on Wednesday . The stock traded as high as C$0.35 and last traded at C$0.31. Approximately 1,321,056 shares were traded during mid-day trading, an increase of 112% from the average daily volume of 621,980 shares. The stock had previously closed at C$0.26.

Northern Graphite Trading Up 31.4%

The business has a 50 day moving average price of C$0.19 and a 200-day moving average price of C$0.16. The company has a current ratio of 0.35, a quick ratio of 0.91 and a debt-to-equity ratio of 318.09. The company has a market cap of C$49.37 million, a P/E ratio of -1.40 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.