Grupo Mexico, S.A.B. de C.V. (OTCMKTS:GMBXF) Sees Significant Drop in Short Interest

Grupo Mexico, S.A.B. de C.V. (OTCMKTS:GMBXF) was the target of a significant decline in short interest during the month of December. As of December 15th, there was short interest totaling 1,489,240 shares, a decline of 40.6% from the November 30th total of 2,508,945 shares. Based on an average daily trading volume, of 119,937 shares, the days-to-cover ratio is presently 12.4 days. Currently, 0.0% of the shares of the stock are sold short. Currently, 0.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 119,937 shares, the days-to-cover ratio is presently 12.4 days.

Grupo Mexico Stock Up 0.3%

Shares of OTCMKTS:GMBXF traded up $0.03 during trading on Friday, hitting $9.78. 16,152 shares of the company’s stock were exchanged, compared to its average volume of 39,064. The firm has a 50-day moving average price of $8.82 and a two-hundred day moving average price of $7.47. Grupo Mexico has a 1-year low of $4.39 and a 1-year high of $10.02.

Analyst Ratings Changes

A number of equities research analysts have commented on GMBXF shares. HSBC reissued a “hold” rating on shares of Grupo Mexico in a report on Friday, October 17th. The Goldman Sachs Group cut shares of Grupo Mexico from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. Jefferies Financial Group cut shares of Grupo Mexico from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Finally, Hsbc Global Res raised Grupo Mexico to a “hold” rating in a report on Monday, October 6th. One analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.

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.