Grupo Mexico (OTCMKTS:GMBXF) Reaches New 52-Week High – Time to Buy?

Grupo Mexico, S.A.B. de C.V. (OTCMKTS:GMBXF) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $12.50 and last traded at $11.67, with a volume of 9984 shares. The stock had previously closed at $11.50.

Wall Street Analyst Weigh In

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

Grupo Mexico Stock Performance

The business has a 50-day simple moving average of $9.68 and a two-hundred day simple moving average of $8.20.

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.