Grupo Mexico (OTCMKTS:GMBXF) Hits New 52-Week High – What’s Next?

Grupo Mexico, S.A.B. de C.V. (OTCMKTS:GMBXF)’s stock price reached a new 52-week high on Monday . The stock traded as high as $10.6999 and last traded at $10.55, with a volume of 8858 shares changing hands. The stock had previously closed at $10.22.

Analyst Upgrades and Downgrades

GMBXF has been the subject of several recent analyst reports. The Goldman Sachs Group lowered Grupo Mexico from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. Hsbc Global Res raised shares of Grupo Mexico to a “hold” rating in a report on Monday, October 6th. Jefferies Financial Group downgraded Grupo Mexico from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Finally, HSBC reiterated 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 issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold”.

Grupo Mexico Price Performance

The firm has a 50-day moving average price of $9.07 and a 200-day moving average price of $7.77.

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.