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

Grupo Mexico, S.A.B. de C.V. (OTCMKTS:GMBXF) saw a large drop in short interest in the month of June. As of June 15th, there was short interest totaling 367,152 shares, a drop of 92.1% from the May 31st total of 4,650,787 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average trading volume of 63,379 shares, the short-interest ratio is presently 5.8 days.

Grupo Mexico Price Performance

OTCMKTS:GMBXF traded up $0.09 on Friday, reaching $11.60. The stock had a trading volume of 5,722 shares, compared to its average volume of 34,651. Grupo Mexico has a 1-year low of $5.80 and a 1-year high of $12.95. The stock has a fifty day moving average price of $11.97 and a 200-day moving average price of $11.25.

Analyst Ratings Changes

A number of research firms recently weighed in on GMBXF. Scotiabank reissued a “sector perform” rating on shares of Grupo Mexico in a research note on Monday, June 15th. The Goldman Sachs Group upgraded shares of Grupo Mexico from a “hold” rating to a “buy” rating in a research note on Friday, April 10th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Grupo Mexico Company Profile

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.