Grupo Mexico (OTCMKTS:GMBXF) Sees Large Volume Increase – Still a Buy?

Grupo Mexico, S.A.B. de C.V. (OTCMKTS:GMBXF) shares saw unusually-strong trading volume on Thursday . Approximately 33,398 shares traded hands during 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.

Analyst Ratings Changes

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

Grupo Mexico Stock Up 5.0%

The stock’s fifty day moving average price is $9.07 and its 200-day moving average price is $7.75.

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.