Grupo Mexico (OTCMKTS:GMBXF) Sets New 12-Month High – What’s Next?

Grupo Mexico, S.A.B. de C.V. (OTCMKTS:GMBXF)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $12.50 and last traded at $11.67, with a volume of 9984 shares changing hands. The stock had previously closed at $11.50.

Analyst Ratings Changes

Several analysts recently commented on the stock. HSBC restated a “hold” rating on shares of Grupo Mexico in a report on Friday, October 17th. Jefferies Financial Group lowered shares of Grupo Mexico from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Finally, Hsbc Global Res raised shares of Grupo Mexico to a “hold” rating in a research note on Monday, October 6th. One analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold”.

Grupo Mexico Stock Performance

The company’s 50 day moving average price is $9.83 and its 200 day moving average price is $8.25.

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.