Clint Coghill’s Coghill Capital Management, a small-cap value investing advisor, has maintained its stake in General Moly, Inc. (NYSEMKT:GMO) as per its recent 13G filing with the SEC. The investment manager reported ownership of 4.84 million shares of the mineral company, representing 5.1% of the company’s common shares. Coghill first disclosed a stake in General Moly, Inc. (NYSEMKT:GMO) at the end of the fourth quarter of 2007 of 10.53 million shares valued at $122.88 million. Coghill has not filed a 13F with the SEC since the September 30, 2014 filing period, and has not filed on General Moly since a 13D filing near the end of that year. The latest filing shows that Coghill’s position in the company is no longer activist.
Clint Coghill founded Coghill Capital Management in 1995 with a focus on small-cap value equity management. The Chicago-based investment firm provides money management services to foundations, family offices, pension plans, endowments, institutional investors, and high-worth professionals. The fund manager is known to target small-cap companies, providing healthy returns to its investors. Coghill Capital Management last reported a public equity portfolio of $3.63 million at the end of the third quarter of 2014.
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General Moly, Inc. (NYSEMKT:GMO) is a mineral development company headquartered in Lakewood, Colorado. The firm is working on two major molybdenum projects in Nevada, U.S.A. The mineral company has an 80% stake in the Mt. Hope Project, which is among the largest molybdenum projects in the world, along with a 20% share of POSCO (ADR) (NYSE:PKX). General Moly, Inc. owns another project, Liberty Project, with ores containing both molybdenum and copper.
On the financial front, General Moly, Inc. (NYSEMKT:GMO) has a market cap of $48.86 million and its shares are trading at $0.51 per share. It has been a difficult year for the company, with its shares declining by 16.23% year-to-date. Further, the shares of the molybdenum production company have declined by 53.96% in the past 12 months. General Moly reported its first quarter 2015 financial results on May 4, 2015, posting net operating expenses of $3.10 million. Its net loss for the quarter stood at $3.78 million, surpassing the loss of $2.36 million from the same quarter last year. The company did not report its revenue figures for the quarter in its report. At the end of the first quarter, General Moly, Inc. (NYSEMKT:GMO) had net cash of $16 million, higher than the net cash of $13 million quarter-over-quarter.
While talking about hedge fund investments, General Moly, Inc. (NYSEMKT:GMO) has attracted investments from the likes of Israel Englander’s Millennium Management and Ken Griffin’s Citadel Investment Group. Mr. Englander held 132,400 shares of the mineral company at the end of the first quarter, with a market value of $68,000. Ken Griffin reported ownership of 38,895 shares valued at $20,000. Jim Simons’ Renaissance Technologies was among the hedge funds in our database closing their position in General Moly, Inc. (NYSEMKT:GMO) in the first quarter. Mr. Simons reported owning $6,000 worth of stock, 11,400 shares total, at the end of the fourth quarter of 2014.
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