Grupo Mexico (OTCMKTS:GMBXF) Shares Gap Up – Here’s What Happened

Grupo Mexico, S.A.B. de C.V. (OTCMKTS:GMBXF) gapped up before the market opened on Tuesday . The stock had previously closed at $10.6255, but opened at $11.73. Grupo Mexico shares last traded at $10.70, with a volume of 9,736 shares.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GMBXF. Hsbc Global Res upgraded Grupo Mexico to a “hold” rating in a report on Monday, October 6th. HSBC reiterated a “hold” rating on shares of Grupo Mexico in a report on Friday, October 17th. Jefferies Financial Group cut shares of Grupo Mexico from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Finally, The Goldman Sachs Group downgraded shares of Grupo Mexico from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. One research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Grupo Mexico Trading Up 1.0%

The firm’s 50-day moving average is $9.12 and its two-hundred day moving average is $7.81.

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.