General Moly (GMO) Sees Large Volume Increase

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General Moly, Inc. (NYSEAMERICAN:GMO) (TSE:GMO) saw an uptick in trading volume on Tuesday . 1,498,466 shares traded hands during mid-day trading, an increase of 827% from the previous session’s volume of 161,717 shares.The stock last traded at $0.24 and had previously closed at $0.21.

Several research firms recently commented on GMO. HC Wainwright set a $1.00 price target on shares of General Moly and gave the company a “buy” rating in a research report on Friday, March 22nd. Zacks Investment Research upgraded shares of General Moly from a “hold” rating to a “buy” rating and set a $0.25 price target for the company in a research 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) EPS for the quarter.

A hedge fund recently raised its stake in General Moly stock. Renaissance Technologies LLC raised its stake in General Moly, Inc. (NYSEAMERICAN:GMO) (TSE:GMO) by 60.1% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 321,841 shares of the basic materials company’s stock after buying an additional 120,800 shares during the quarter. Renaissance Technologies LLC owned approximately 0.23% of General Moly worth $70,000 as of its most recent SEC filing.

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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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