General Moly Up 9.5% After Hitting 52-Week High (GMO)

Shares of General Moly, Inc. GMO are currently up 9.5% at $6.96 per share during Wednesday afternoon trading. The company has seen its share price rise since the government of China decided to reduce the amount of rare earth materials that will be available for export. Today's trading range for shares of General Moly, Inc has been between $6.43 and a 52-week high of $6.99 per share. The consensus price target of analysts covering the company's stock is $6.15 per share. Volume of 4.7 million shares is nearly 4 times the daily average volume of 1.2 million shares. General Moly, Inc. (GMO) is a U.S.-based molybdenum mineral development, exploration and mining company whose primary asset, its 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 the company's second molybdenum property, the Liberty project that is also located in central Nevada, General Moly's goal is to become the largest primary molybdenum producer by the middle of the decade. Read more from Benzinga's Company news.