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

Grupo Mexico, S.A.B. de C.V. (OTCMKTS:GMBXF)’s stock price gapped up before the market opened on Monday. The stock had previously closed at $12.57, but opened at $13.3750. Grupo Mexico shares last traded at $13.3750, with a volume of 1,056 shares trading hands.

Analysts Set New Price Targets

Separately, Zacks Research upgraded shares of Grupo Mexico from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Grupo Mexico currently has a consensus rating of “Moderate Buy”.

Grupo Mexico Stock Performance

The stock has a fifty day simple moving average of $13.06 and a 200-day simple moving average of $12.23.

Grupo Mexico Company Profile

Grupo México is a diversified Mexican company with core operations in mining, transportation and infrastructure. Its mining business is conducted primarily through Southern Copper Corporation, a major integrated copper producer with mining, smelting and refining activities in Mexico and Peru. The company produces copper and also recovers byproducts such as molybdenum, zinc, silver and sulfuric acid.

Grupo México’s principal mining assets include the Buenavista del Cobre operation in Sonora, Mexico, and the Cuajone and Toquepala mines in Peru.