Short Interest in General Moly, Inc. (GMO) Increases By 5.9%
General Moly, Inc. (NYSEAMERICAN:GMO) (TSE:GMO) saw a large increase in short interest in the month of September. As of September 14th, there was short interest totalling 552,558 shares, an increase of 5.9% from the August 31st total of 521,646 shares. Based on an average daily volume of 99,876 shares, the days-to-cover ratio is currently 5.5 days. Currently, 0.8% of the company’s stock are short sold.
Several brokerages have issued reports on GMO. Zacks Investment Research raised shares of General Moly from a “sell” rating to a “hold” rating in a research note on Friday, June 1st. HC Wainwright set a $1.00 target price on shares of General Moly and gave the company a “buy” rating in a research note on Wednesday, August 15th.
Shares of NYSEAMERICAN:GMO opened at $0.35 on Thursday. General Moly has a 12-month low of $0.28 and a 12-month high of $0.46.
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.
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