General Moly, Inc. (NYSEAMERICAN:GMO) (TSE:GMO) saw a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 1,220,000 shares, a growth of 7.0% from the September 30th total of 1,140,000 shares. Approximately 1.5% of the company’s stock are sold short. Based on an average trading volume of 329,200 shares, the short-interest ratio is presently 3.7 days.

Separately, HC Wainwright restated a “buy” rating and set a $0.75 price objective on shares of General Moly in a report on Wednesday, November 13th.

GMO opened at $0.28 on Monday. General Moly has a 1-year low of $0.16 and a 1-year high of $0.45.

A hedge fund recently raised its stake in General Moly stock. Lindbrook Capital LLC lifted its position in General Moly, Inc. (NYSEAMERICAN:GMO) (TSE:GMO) by 66.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 430,000 shares of the basic materials company’s stock after acquiring an additional 172,411 shares during the quarter. Lindbrook Capital LLC owned approximately 0.31% of General Moly worth $112,000 at the end of the most recent reporting period.

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.

Further Reading: Profit Margin

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