Grupo Mexico (OTCMKTS:GMBXF) Sees Strong Trading Volume – Time to Buy?

Shares of Grupo Mexico, S.A.B. de C.V. (OTCMKTS:GMBXF) saw strong trading volume on Tuesday . 150,918 shares traded hands during mid-day trading, an increase of 271% from the previous session’s volume of 40,653 shares.The stock last traded at $11.50 and had previously closed at $11.44.

Analyst Ratings Changes

Several research analysts have recently issued reports on GMBXF shares. Hsbc Global Res upgraded shares of Grupo Mexico to a “hold” rating in a report on Monday, October 6th. Jefferies Financial Group cut Grupo Mexico from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Finally, HSBC reissued a “hold” rating on shares of Grupo Mexico in a report on Friday, October 17th. One analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold”.

Grupo Mexico Stock Performance

The business has a fifty day simple moving average of $9.61 and a two-hundred day simple moving average of $8.16.

Grupo Mexico Company Profile

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.