General Moly, Inc. (GMO) Receives “Buy” Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of General Moly, Inc. (NYSEMKT:GMO) (TSE:GMO) in a report published on Tuesday, October 17th. The firm currently has a $0.75 price target on the basic materials company’s stock.

Several other brokerages also recently weighed in on GMO. ValuEngine upgraded General Moly from a sell rating to a hold rating in a report on Wednesday, July 19th. Zacks Investment Research downgraded General Moly from a buy rating to a hold rating in a report on Thursday, August 24th.

Shares of General Moly (NYSEMKT GMO) traded down $0.00 on Tuesday, reaching $0.29. 371,315 shares of the company traded hands, compared to its average volume of 140,394. General Moly has a fifty-two week low of $0.22 and a fifty-two week high of $0.72.

General Moly (NYSEMKT:GMO) (TSE:GMO) last posted its quarterly earnings data on Monday, August 14th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter.

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An institutional investor recently raised its position in General Moly stock. Bank of America Corp DE increased its holdings in General Moly, Inc. (NYSEMKT:GMO) (TSE:GMO) by 7,900.8% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 280,029 shares of the basic materials company’s stock after buying an additional 276,529 shares during the quarter. Bank of America Corp DE owned about 0.25% of General Moly worth $140,000 at the end of the most recent reporting period.

General Moly Company Profile

General Moly, Inc is engaged in the business of the exploration, development and mining of properties containing molybdenum. The Company, through its subsidiary, Eureka Moly, LLC, holds interest in the Mt. Hope Project, a molybdenum property, located in Eureka County, Nevada. The Mt. Hope Project contains molybdenum reserves totaling approximately 1.4 billion pounds of which 1.2 billion pounds are estimated to be recoverable.

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