Grupo Mexico (OTCMKTS:GMBXF) Shares Gap Up – Still a Buy?

Grupo Mexico, S.A.B. de C.V. (OTCMKTS:GMBXF) shares gapped up before the market opened on Thursday. The stock had previously closed at $13.03, but opened at $13.5399. Grupo Mexico shares last traded at $13.5399, with a volume of 554 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded Grupo Mexico from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy”.

Grupo Mexico Price Performance

The company has a 50-day simple moving average of $13.05 and a two-hundred day simple moving average of $12.34.

Grupo Mexico Company Profile

Grupo México, SAB. de C.V. is a Mexican conglomerate with operations in mining, transportation and infrastructure. Its mining business is conducted primarily through Americas Mining Corporation, which owns a controlling interest in Southern Copper Corporation. The company’s principal products include copper, molybdenum, silver, zinc and other mineral concentrates.

Grupo México operates mining and processing facilities in Mexico, Peru and the United States. Its Mexican operations include the Buenavista del Cobre and La Caridad mining complexes, while Southern Copper operates the Toquepala and Cuajone mines and related processing facilities in Peru.