General Moly, Inc. (NYSEAMERICAN:GMO) Sees Large Growth in Short Interest

General Moly, Inc. (NYSEAMERICAN:GMO) (TSE:GMO) was the target of a large increase in short interest in July. As of July 15th, there was short interest totalling 175,500 shares, an increase of 6.5% from the June 30th total of 164,800 shares. Based on an average trading volume of 726,800 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.2% of the company’s stock are short sold.

A hedge fund recently raised its stake in General Moly stock. Bank of America Corp DE lifted its position in General Moly, Inc. (NYSEAMERICAN:GMO) (TSE:GMO) by 98.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 631,618 shares of the basic materials company’s stock after purchasing an additional 312,665 shares during the quarter. Bank of America Corp DE owned approximately 0.46% of General Moly worth $143,000 at the end of the most recent quarter.

Shares of NYSEAMERICAN GMO opened at $0.22 on Friday. General Moly has a 52-week low of $0.14 and a 52-week high of $0.37.

General Moly (NYSEAMERICAN:GMO) (TSE:GMO) last announced its earnings results on Friday, May 15th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter.

Several research analysts have recently issued reports on the company. HC Wainwright reaffirmed a “buy” rating and set a $0.75 price objective on shares of General Moly in a research report on Tuesday, May 5th. Zacks Investment Research cut General Moly from a “buy” rating to a “hold” rating in a research report on Tuesday, July 21st.

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% 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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