General Moly (NYSEAMERICAN:GMO) (TSE:GMO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday, reports.

According to Zacks, “General Moly is a U.S.-based molybdenum mineral exploration and development company listed on the American Stock Exchange and the Toronto Stock Exchange under the symbol GMO. Their primary asset, their interest in the Mt. Hope project located in central Nevada, is considered one of the world’s largest and highest grade molybdenum deposits. Combined with their second molybdenum property, the Hall-Tonopah project which is also located in central Nevada. Their goal is to become the largest primary molybdenum producer by the middle of the next decade. “

Separately, HC Wainwright restated a “buy” rating and set a $4.00 target price on shares of Quest Resource in a research report on Friday, March 22nd.

Shares of General Moly stock traded up $0.01 during trading on Thursday, hitting $0.38. 134,100 shares of the company were exchanged, compared to its average volume of 294,318. General Moly has a 1-year low of $0.16 and a 1-year high of $0.46.

General Moly (NYSEAMERICAN:GMO) (TSE:GMO) last posted its earnings results on Tuesday, May 14th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter.

About General Moly

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.

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