General Moly, Inc. (NYSEAMERICAN:GMO) (TSE:GMO) saw a large drop in short interest in January. As of January 31st, there was short interest totalling 143,487 shares, a drop of 27.4% from the January 15th total of 197,581 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average daily volume of 118,312 shares, the short-interest ratio is currently 1.2 days.
Separately, HC Wainwright set a $1.00 price objective on shares of General Moly and gave the company a “buy” rating in a research report on Friday, November 9th.
NYSEAMERICAN:GMO opened at $0.23 on Thursday. General Moly has a twelve month low of $0.16 and a twelve month high of $0.46.
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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