Zacks Investment Research Downgrades General Moly, Inc. (GMO) to Hold
General Moly, Inc. (NYSEMKT:GMO) (TSE:GMO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
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. “
Several other equities research analysts also recently commented on the stock. ValuEngine raised shares of General Moly from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. HC Wainwright restated a “buy” rating on shares of General Moly in a report on Wednesday, August 16th.
General Moly (GMO) traded down 0.6242% during trading on Wednesday, reaching $0.3662. The company’s stock had a trading volume of 101,811 shares. General Moly has a 12 month low of $0.21 and a 12 month high of $0.72. The company’s market cap is $40.71 million. The stock’s 50-day moving average is $0.43 and its 200 day moving average is $0.39.
General Moly (NYSEMKT:GMO) (TSE:GMO) last posted its quarterly earnings results on Monday, August 14th. The basic materials company reported ($0.02) earnings per share for the quarter. On average, equities analysts forecast that General Moly will post ($0.08) EPS for the current fiscal year.
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An institutional investor recently raised its position in General Moly stock. Bank of America Corp DE raised its stake in General Moly, Inc. (NYSEMKT:GMO) (TSE:GMO) by 7,900.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 280,029 shares of the basic materials company’s stock after acquiring an additional 276,529 shares during the quarter. Bank of America Corp DE owned approximately 0.25% of General Moly worth $140,000 as of its most recent filing with the Securities & Exchange Commission.
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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