Grupo Mexico, S.A.B. de C.V. (OTCMKTS:GMBXF – Get Free Report) was the target of a significant increase in short interest in July. As of July 15th, there was short interest totaling 1,470,156 shares, an increase of 230.1% from the June 30th total of 445,358 shares. Approximately 0.0% of the shares of the stock are short sold. Based on an average daily volume of 48,122 shares, the days-to-cover ratio is presently 30.6 days.
Grupo Mexico Trading Up 0.5%
Shares of GMBXF stock traded up $0.06 during trading hours on Friday, reaching $12.05. The company’s stock had a trading volume of 11,269 shares, compared to its average volume of 17,586. Grupo Mexico has a fifty-two week low of $5.92 and a fifty-two week high of $12.95. The firm’s 50 day simple moving average is $11.90 and its 200-day simple moving average is $11.55.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on GMBXF. Scotiabank reiterated a “sector perform” rating on shares of Grupo Mexico in a research note on Monday, June 15th. The Goldman Sachs Group upgraded shares of Grupo Mexico from a “hold” rating to a “buy” rating in a research report on Friday, April 10th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold”.
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.
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