Grupo Mexico (OTCMKTS:GMBXF) Sees Unusually-High Trading Volume – Time to Buy?

Shares of Grupo Mexico, S.A.B. de C.V. (OTCMKTS:GMBXF) saw strong trading volume on Tuesday . 121,107 shares traded hands during mid-day trading, an increase of 310% from the previous session’s volume of 29,572 shares.The stock last traded at $8.93 and had previously closed at $8.85.

Wall Street Analysts Forecast Growth

GMBXF has been the topic of several recent research reports. The Goldman Sachs Group lowered Grupo Mexico from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. Jefferies Financial Group downgraded shares of Grupo Mexico from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Hsbc Global Res raised shares of Grupo Mexico to a “hold” rating in a report on Monday, October 6th. Finally, HSBC reaffirmed a “hold” rating on shares of Grupo Mexico in a report on Friday, October 17th. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold”.

Grupo Mexico Stock Performance

The stock has a fifty day simple moving average of $8.39 and a 200-day simple moving average of $7.02.

About Grupo Mexico

Grupo México, SAB. de C.V. engages in copper production, cargo transportation, and infrastructure businesses worldwide. The company operates through Mining, Transportation, and Infrastructure divisions. The Mining division explores for copper, silver, molybdenum, zinc, sulfuric acid, gold, and selenium.