Syrah Resources (ASX:SYR) Shares Up 4.8%

Syrah Resources Ltd (ASX:SYR)’s share price shot up 4.8% during mid-day trading on Tuesday . The stock traded as high as A$0.56 ($0.39) and last traded at A$0.55 ($0.39), 3,429,356 shares traded hands during mid-day trading. An increase of 64% from the average session volume of 2,090,000 shares. The stock had previously closed at A$0.52 ($0.37).

The company’s fifty day moving average is A$0.43 and its 200-day moving average is A$0.66. The company has a market capitalization of $225.29 million and a PE ratio of -1.79. The company has a debt-to-equity ratio of 3.32, a quick ratio of 3.42 and a current ratio of 4.23.

Syrah Resources Company Profile (ASX:SYR)

Syrah Resources Limited, together with its subsidiaries, engages in the exploration, evaluation, and development of mineral properties in Mozambique. Its principal project is the Balama Graphite and Vanadium project located in the Cabo Delgado province of northern Mozambique. The company also produces spherical graphite through downstream strategy, which is used to manufacture anodes for lithium ion batteries; and natural graphite recarburisers that are used in the steel making and iron casting industries.