Northern Graphite (CVE:NGC) Shares Up 37.3% – Should You Buy?

Northern Graphite Co. (CVE:NGC) shares rose 37.3% during mid-day trading on Wednesday . The company traded as high as C$0.35 and last traded at C$0.35. Approximately 1,896,047 shares were traded during trading, an increase of 179% from the average daily volume of 680,479 shares. The stock had previously closed at C$0.26.

Northern Graphite Stock Performance

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

About Northern Graphite

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.