According to The Fly, general Moly (GMO), the Materials sector company, was revisited by a Wall Street analyst today. The company recieved Buy from H.C. Wainwright’s analyst Heiko Ihle.
Ihle observed:
“We note that General Moly has ended 3Q18 with C$1.7 million in cash and cash equivalents, though this was prior to the firm’s equity offering in October that provided the company with C$1.9 million in net proceeds. Ongoing exploration program yields additional high-grade results. The firm announced additional results from its 11-hole drill program at Mt. Hope last month, including several high-grade zinc and copper- silver intercepts. These results followed impressive initial results from the program, which we discussed in a prior note on September 5, 2018, titled, “Drill at Mt. Hope; Reiterate Buy”. We highlight hole MH-251, which returned an impressive 50 feet of 8.72% zinc starting at a depth of 76 feet, including 20 feet of 13% zinc from a depth of 86 feet.”
According to TipRanks.com, Ihle has 0 stars on 0-5 star ranking scale with an average return of -10.9% and a 22.8% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Solitario Exploration & Royalty, Americas Silver Corporation, and Golden Star Resources Ltd.
Read also: Direxion Daily Jr Gld Mnrs (JNUG): Gold Stocks Recovering
General Moly has an analyst consensus of Moderate Buy.
The company has a one-year high of C$0.63 and a one-year low of C$0.26. Currently, General Moly has an average volume of 3,963.
General Moly, Inc. engages in the exploration, development, and mining of properties primarily containing molybdenum. Its properties include the Mount Hope and Liberty molybdenum projects. The company was founded on November 23, 1925 and is headquartered in Lakewood, CO.
The company’s shares closed on Thursday at C$0.27, close to its 52-week low of C$0.26.
