General Moly, Inc. (GMO) Earns Buy Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of General Moly, Inc. (NYSEMKT:GMO) (TSE:GMO) in a research note issued to investors on Wednesday.

GMO has been the topic of a number of other reports. ValuEngine lowered shares of General Moly from a hold rating to a sell rating in a research note on Friday, August 11th. Zacks Investment Research upgraded shares of General Moly from a hold rating to a buy rating and set a $0.50 target price on the stock in a research note on Thursday.

Shares of General Moly (NYSEMKT GMO) opened at 0.3935 on Wednesday. General Moly has a 1-year low of $0.21 and a 1-year high of $0.72. The firm’s market capitalization is $43.74 million. The company has a 50-day moving average of $0.41 and a 200-day moving average of $0.42.

General Moly (NYSEMKT:GMO) (TSE:GMO) last released its earnings results on Monday, August 14th. The basic materials company reported ($0.02) earnings per share for the quarter. Equities research analysts predict that General Moly will post ($0.08) EPS for the current fiscal year.

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A hedge fund recently raised its stake in General Moly stock. Bank of America Corp DE raised its position in shares of General Moly, Inc. (NYSEMKT:GMO) (TSE:GMO) by 7,900.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 280,029 shares of the basic materials company’s stock after buying an additional 276,529 shares during the period. Bank of America Corp DE owned approximately 0.25% of General Moly worth $140,000 as of its most recent SEC filing.

About General Moly

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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