Grupo Simec (NYSEAMERICAN:SIM) Shares Gap Up – Here’s What Happened

Grupo Simec, S.A. de C.V. (NYSEAMERICAN:SIM)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $27.50, but opened at $30.00. Grupo Simec shares last traded at $30.00, with a volume of 105 shares trading hands.

Grupo Simec Stock Up 5.6%

The stock’s 50-day simple moving average is $29.57 and its two-hundred day simple moving average is $30.17. The company has a market capitalization of $4.66 billion, a price-to-earnings ratio of 25.27 and a beta of 0.15.

Grupo Simec (NYSEAMERICAN:SIM) last released its earnings results on Tuesday, June 30th. The basic materials company reported $0.21 EPS for the quarter. Grupo Simec had a net margin of 11.28% and a return on equity of 5.96%. The business had revenue of $466.03 million during the quarter.

About Grupo Simec

Grupo Simec (NYSE American: SIM) is a Mexico‐based producer and distributor of long steel products, serving construction, infrastructure, industrial and energy markets. The company’s core operations encompass the manufacture of merchant bar steel, including reinforcing bar (rebar), wire rod, merchant bars and structural shapes. In parallel, its service centers offer cutting, bending and other value‐added processing services to meet the precise specifications of fabricators and end users.

With multiple steel mills located throughout Mexico and an expanding footprint in the United States, Grupo Simec maintains a vertically integrated supply chain that spans raw‐material sourcing, steelmaking and downstream processing.