Zacks Investment Research Lowers General Moly (GMO) to Hold

General Moly (NYSEAMERICAN:GMO) (TSE:GMO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Saturday.

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. “

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Separately, HC Wainwright set a $1.00 price target on General Moly and gave the stock a “buy” rating in a research note on Wednesday, March 14th.

Shares of GMO stock opened at $0.42 on Friday. The stock has a market capitalization of $53.48, a price-to-earnings ratio of -6.00 and a beta of 1.43. General Moly has a 52 week low of $0.28 and a 52 week high of $0.53.

General Moly (NYSEAMERICAN:GMO) (TSE:GMO) last posted its quarterly earnings data on Tuesday, March 13th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter.

An institutional investor recently raised its position in General Moly stock. Deutsche Bank AG grew its position in shares of General Moly, Inc (NYSEAMERICAN:GMO) (TSE:GMO) by 84.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 373,000 shares of the basic materials company’s stock after purchasing an additional 170,867 shares during the period. Deutsche Bank AG owned about 0.30% of General Moly worth $122,000 at the end of the most recent reporting period.

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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% interest 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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