General Moly, Inc. (GMO) Sees Large Drop in Short Interest

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General Moly, Inc. (NYSEAMERICAN:GMO) (TSE:GMO) was the target of a significant decrease in short interest in January. As of January 31st, there was short interest totalling 143,487 shares, a decrease of 27.4% from the January 15th total of 197,581 shares. Based on an average daily volume of 118,312 shares, the days-to-cover ratio is presently 1.2 days. Currently, 0.2% of the company’s stock are sold short.

NYSEAMERICAN GMO opened at $0.23 on Thursday. General Moly has a 52-week low of $0.16 and a 52-week high of $0.46.

Separately, HC Wainwright set a $1.00 price target on shares of General Moly and gave the stock a “buy” rating in a research report on Friday, November 9th.

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General Moly Company Profile

General Moly, Inc, together with its subsidiary, Eureka Moly, LLC, engages in the exploration, development, and mining of mineral properties in the United States. The company explores for molybdenum and copper deposits. It primarily has an 80% interests in the Mt. Hope project consisting of 13 patented lode claims and 1 mill site claim with proven and probable molybdenum reserves totaling approximately 1.4 billion pounds located in Eureka County, Nevada.

Further Reading: Compound Annual Growth Rate (CAGR)

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