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 $0.23.
Ihle said:
“We reiterate our Buy rating and our PT of $0.75 per share. 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. We believe that the projects could ultimately be moved towards production, especially if prices continue to rise given the current molybdenum supply deficit. Management believes a decision regarding reinstatement of Mt. Hope’s water permits and a record of decision (ROD) for Mt. Hope’s Supplemental EIS could both be announced in 2019.”
According to TipRanks.com, Ihle is a 1-star analyst with an average return of -0.1% and a 46.5% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Solitario Exploration & Royalty, Golden Star Resources Ltd, and Northern Dynasty Minerals.
General Moly Inc has an analyst consensus of Moderate Buy, with a price target consensus of $0.75.
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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 140.4K.
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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.
