General Moly (NYSEAMERICAN:GMO) (TSE:GMO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Thursday, reports.

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. “

Separately, HC Wainwright reiterated a “buy” rating and set a $4.00 price target on shares of Quest Resource in a report on Friday, March 22nd.

Shares of NYSEAMERICAN GMO traded up $0.01 during mid-day trading on Thursday, reaching $0.38. The company had a trading volume of 134,100 shares, compared to its average volume of 294,318. General Moly has a 12-month low of $0.16 and a 12-month high of $0.46.

General Moly (NYSEAMERICAN:GMO) (TSE:GMO) last released its quarterly earnings data on Tuesday, May 14th. The basic materials company reported ($0.01) EPS for the quarter.

General Moly Company Profile

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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