Zacks Investment Research upgraded shares of General Moly, Inc. (NYSEMKT:GMO) (TSE:GMO) from a sell rating to a hold rating in a research report report published on Monday.

According to Zacks, “General Moly is a U.S.-based molybdenum mineral exploration and development company listed on the American Stock Exchange and the Toronto Stock Exchange under the symbol GMO. Their primary asset, their interest in the Mt. Hope project located in central Nevada, is considered one of the world’s largest and highest grade molybdenum deposits. Combined with their second molybdenum property, the Hall-Tonopah project which is also located in central Nevada. Their goal is to become the largest primary molybdenum producer by the middle of the next decade. “

General Moly (NYSEMKT:GMO) opened at 0.315 on Monday. The company’s 50-day moving average price is $0.25 and its 200-day moving average price is $0.31. General Moly has a 12-month low of $0.15 and a 12-month high of $0.47. The firm’s market capitalization is $34.83 million.

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About General Moly

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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