Grupo Mexico (OTCMKTS:GMBXF) Sets New 1-Year High – Time to Buy?

Grupo Mexico, S.A.B. de C.V. (OTCMKTS:GMBXF) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $11.7418 and last traded at $11.20, with a volume of 11575 shares changing hands. The stock had previously closed at $10.9785.

Analyst Upgrades and Downgrades

GMBXF has been the subject of a number of recent research reports. Jefferies Financial Group cut Grupo Mexico from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. HSBC reiterated a “hold” rating on shares of Grupo Mexico in a report on Friday, October 17th. Finally, Hsbc Global Res raised shares of Grupo Mexico 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 issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold”.

Grupo Mexico Price Performance

The firm has a 50 day moving average price of $9.35 and a two-hundred day moving average price of $7.98.

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.