General Moly (GMO) Stock Price Down 7.1%

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General Moly, Inc. (NYSEAMERICAN:GMO) (TSE:GMO)’s share price was down 7.1% during mid-day trading on Monday . The stock traded as low as $0.37 and last traded at $0.39. Approximately 1,663,829 shares changed hands during mid-day trading, an increase of 621% from the average daily volume of 230,761 shares. The stock had previously closed at $0.42.

Several equities analysts have recently issued reports on GMO shares. HC Wainwright set a $1.00 target price on General Moly and gave the company a “buy” rating in a report on Thursday, March 7th. Zacks Investment Research raised General Moly from a “hold” rating to a “buy” rating and set a $0.25 target price for the company in a report on Wednesday, March 27th.

General Moly (NYSEAMERICAN:GMO) (TSE:GMO) last announced its quarterly earnings data on Friday, March 22nd. The basic materials company reported ($0.02) earnings per share for the quarter.

A hedge fund recently raised its stake in General Moly stock. Renaissance Technologies LLC raised its position in shares of General Moly, Inc. (NYSEAMERICAN:GMO) (TSE:GMO) by 60.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 321,841 shares of the basic materials company’s stock after purchasing an additional 120,800 shares during the period. Renaissance Technologies LLC owned 0.23% of General Moly worth $70,000 as of its most recent filing with the Securities and Exchange Commission.

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About General Moly (NYSEAMERICAN:GMO)

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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