General Moly (NYSEAMERICAN:GMO) PT Set at $1.00 by HC Wainwright

General Moly (NYSEAMERICAN:GMO) (TSE:GMO) received a $1.00 price target from equities researchers at HC Wainwright in a note issued to investors on Wednesday, March 14th. The brokerage currently has a “buy” rating on the basic materials company’s stock. HC Wainwright’s target price would indicate a potential upside of 156.48% from the company’s previous close.

GMO stock remained flat at $$0.39 during mid-day trading on Wednesday. 54,280 shares of the company’s stock traded hands, compared to its average volume of 207,057. General Moly has a one year low of $0.28 and a one year high of $0.53.

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

A hedge fund recently raised its stake in General Moly stock. Deutsche Bank AG boosted its position in General Moly, Inc (NYSEAMERICAN:GMO) (TSE:GMO) by 84.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 373,000 shares of the basic materials company’s stock after buying an additional 170,867 shares during the period. Deutsche Bank AG owned approximately 0.30% of General Moly worth $122,000 as of its most recent SEC filing.

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About General Moly

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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