General Moly, Inc. (NYSEMKT:GMO) (TSE:GMO) was the target of a large drop in short interest in October. As of October 31st, there was short interest totalling 1,039,016 shares, a drop of 4.5% from the October 13th total of 1,087,996 shares. Approximately 1.4% of the company’s stock are short sold. Based on an average daily volume of 110,551 shares, the short-interest ratio is currently 9.4 days.

An institutional investor recently raised its position in General Moly stock. Bank of America Corp DE grew its stake in shares of General Moly, Inc. (NYSEMKT:GMO) (TSE:GMO) by 7,900.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 280,029 shares of the basic materials company’s stock after acquiring an additional 276,529 shares during the period. Bank of America Corp DE owned about 0.25% of General Moly worth $140,000 at the end of the most recent quarter.

Shares of General Moly (NYSEMKT GMO) traded up $0.01 during mid-day trading on Monday, reaching $0.29. 156,788 shares of the company’s stock traded hands, compared to its average volume of 176,712. General Moly has a 52 week low of $0.22 and a 52 week high of $0.72.

General Moly (NYSEMKT:GMO) (TSE:GMO) last announced its quarterly earnings data on Monday, November 6th. The basic materials company reported ($0.02) earnings per share for the quarter.

A number of equities research analysts recently weighed in on GMO shares. ValuEngine raised shares of General Moly from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. HC Wainwright reaffirmed a “buy” rating and set a $0.75 price target on shares of General Moly in a report on Tuesday, October 17th. Zacks Investment Research raised shares of General Moly from a “hold” rating to a “buy” rating and set a $0.50 price target for the company in a report on Friday, August 25th. Finally, BidaskClub lowered shares of General Moly from a “sell” rating to a “strong sell” rating in a report on Saturday, November 4th.

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General Moly Company Profile

General Moly, Inc is engaged in the business of the exploration, development and mining of properties containing molybdenum. The Company, through its subsidiary, Eureka Moly, LLC, holds interest in the Mt. Hope Project, a molybdenum property, located in Eureka County, Nevada. The Mt. Hope Project contains molybdenum reserves totaling approximately 1.4 billion pounds of which 1.2 billion pounds are estimated to be recoverable.

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