Grupo Mexico (OTCMKTS:GMBXF) Shares Gap Up – Still a Buy?

Shares of Grupo Mexico, S.A.B. de C.V. (OTCMKTS:GMBXF) gapped up prior to trading on Tuesday . The stock had previously closed at $10.6255, but opened at $11.73. Grupo Mexico shares last traded at $10.70, with a volume of 9,736 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. The Goldman Sachs Group cut Grupo Mexico from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. HSBC reiterated a “hold” rating on shares of Grupo Mexico in a research note on Friday, October 17th. Hsbc Global Res raised shares of Grupo Mexico to a “hold” rating in a research report on Monday, October 6th. Finally, Jefferies Financial Group downgraded Grupo Mexico from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Grupo Mexico has an average rating of “Hold”.

Grupo Mexico Trading Up 1.0%

The business has a 50-day moving average price of $9.12 and a 200-day moving average price of $7.81.

About Grupo Mexico

Grupo México is a diversified Mexican industrial conglomerate with principal operations in mining, transportation and infrastructure. The company’s core business is the extraction and processing of base and precious metals, while complementary divisions provide freight rail and logistics services across Mexico. Grupo México operates as a vertically integrated enterprise that combines mineral production with the transport and logistics capabilities needed to move bulk commodities to market.

In mining, Grupo México is best known as the parent of Southern Copper Corporation and as one of the world’s larger copper producers.