Grupo Mexico (OTCMKTS:GMBXF) Shares Gap Down – Time to Sell?

Grupo Mexico, S.A.B. de C.V. (OTCMKTS:GMBXF) gapped down before the market opened on Thursday . The stock had previously closed at $9.32, but opened at $9.07. Grupo Mexico shares last traded at $9.07, with a volume of 5,000 shares changing hands.

Analysts Set New Price Targets

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

Grupo Mexico Price Performance

The stock’s 50 day moving average price is $8.66 and its two-hundred day moving average price is $7.32.

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.