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

Grupo Mexico, S.A.B. de C.V. (OTCMKTS:GMBXF) shares saw unusually-high trading volume on Friday . Approximately 36,009 shares were traded during mid-day trading, an increase of 28% from the previous session’s volume of 28,092 shares.The stock last traded at $9.59 and had previously closed at $9.51.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. The Goldman Sachs Group cut shares of Grupo Mexico from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. HSBC reiterated a “hold” rating on shares of Grupo Mexico in a report on Friday, October 17th. Hsbc Global Res upgraded Grupo Mexico to a “hold” rating in a report on Monday, October 6th. Finally, Jefferies Financial Group cut Grupo Mexico from a “strong-buy” rating to a “hold” rating in a 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. Based on data from MarketBeat, the company presently has an average rating of “Hold”.

Grupo Mexico Stock Performance

The business has a fifty day simple moving average of $8.93 and a 200 day simple moving average of $7.57.

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.