Grupo Mexico (OTCMKTS:GMBXF) Sees Strong Trading Volume – Here’s Why

Shares of Grupo Mexico, S.A.B. de C.V. (OTCMKTS:GMBXF) saw unusually-high trading volume on Thursday . Approximately 33,398 shares traded hands during mid-day trading, an increase of 90% from the previous session’s volume of 17,620 shares.The stock last traded at $9.8244 and had previously closed at $9.90.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. The Goldman Sachs Group lowered Grupo Mexico from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. Hsbc Global Res upgraded Grupo Mexico to a “hold” rating in a report on Monday, October 6th. Jefferies Financial Group downgraded Grupo Mexico from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Finally, HSBC restated a “hold” rating on shares of Grupo Mexico in a report on Friday, October 17th. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Grupo Mexico currently has an average rating of “Hold”.

Grupo Mexico Trading Down 1.3%

The stock has a 50 day moving average of $9.03 and a 200-day moving average of $7.70.

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.