H.C. Wainwright analyst Heiko Ihle reiterated a Buy rating on General Moly Inc (GMO) today and set a price target of $0.75. The company’s shares closed yesterday at $0.26.
Ihle noted:
“We reiterate our Buy rating and our per share PT of $0.75. Our valuation is predicated on a DCF of operations for both the Mt. Hope and Liberty projects, utilizing unchanged discount rates of 13% and 14%, respectively.”
According to TipRanks.com, Ihle ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -6.0% and a 33.5% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Solitario Exploration & Royalty, Golden Star Resources Ltd, and Northern Dynasty Minerals.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for General Moly Inc with a $0.75 average price target.
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The company has a one-year high of $0.46 and a one-year low of $0.16. Currently, General Moly Inc has an average volume of 168.9K.
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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.
