Grupo Mexico (OTCMKTS:GMBXF) Shares Gap Up – Should You Buy?

Grupo Mexico, S.A.B. de C.V. (OTCMKTS:GMBXF) gapped up before the market opened on Wednesday . The stock had previously closed at $11.13, but opened at $11.9250. Grupo Mexico shares last traded at $12.00, with a volume of 2,032 shares trading hands.

Analyst Upgrades and Downgrades

Separately, HSBC reiterated a “hold” rating on shares of Grupo Mexico in a report on Friday, October 17th. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.

Grupo Mexico Stock Performance

The stock has a 50-day moving average of $10.21 and a two-hundred day moving average of $8.48.

Grupo Mexico Company Profile

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.