General Moly (NYSEAMERICAN:GMO) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of General Moly (NYSEAMERICAN:GMO) (TSE:GMO) from a sell rating to a hold rating in a research report sent to investors 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 reaffirmed a buy rating and set a $4.00 price target on shares of Quest Resource in a research note on Friday, March 22nd.

Shares of NYSEAMERICAN GMO opened at $0.36 on Thursday. General Moly has a 12-month low of $0.16 and a 12-month high of $0.46.

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

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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