Grupo Mexico (OTCMKTS:GMBXF) Trading 6.9% Higher – Here’s What Happened

Grupo Mexico, S.A.B. de C.V. (OTCMKTS:GMBXF) shares rose 6.9% during mid-day trading on Thursday . The company traded as high as $9.84 and last traded at $9.84. Approximately 1,650 shares traded hands during mid-day trading, a decline of 94% from the average daily volume of 28,956 shares. The stock had previously closed at $9.2050.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GMBXF. HSBC restated a “hold” rating on shares of Grupo Mexico in a research report on Friday, October 17th. 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 research note on Monday, October 6th. Finally, The Goldman Sachs Group lowered Grupo Mexico from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold”.

Grupo Mexico Stock Performance

The stock’s 50 day moving average is $8.46 and its two-hundred day moving average is $7.14.

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.