Grupo Mexico (OTCMKTS:GMBXF) Sets New 12-Month High – Here’s Why

Grupo Mexico, S.A.B. de C.V. (OTCMKTS:GMBXF)’s stock price hit a new 52-week high on Thursday . The stock traded as high as $9.10 and last traded at $9.10, with a volume of 8120 shares traded. The stock had previously closed at $8.90.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on GMBXF shares. Jefferies Financial Group lowered shares of Grupo Mexico from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. The Goldman Sachs Group cut shares of Grupo Mexico from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. HSBC reiterated a “hold” rating on shares of Grupo Mexico in a research report on Friday, October 17th. Finally, Hsbc Global Res upgraded Grupo Mexico 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 assigned a Hold rating to the company’s stock. According to MarketBeat, Grupo Mexico has an average rating of “Hold”.

Grupo Mexico Price Performance

The stock’s 50-day moving average is $8.42 and its 200 day moving average is $7.05.

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.