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

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

Wall Street Analyst Weigh In

GMBXF has been the topic of a number of recent analyst reports. Hsbc Global Res upgraded shares of Grupo Mexico to a “hold” rating in a research note on Monday, October 6th. HSBC reissued a “hold” rating on shares of Grupo Mexico in a research note on Friday, October 17th. Finally, Jefferies Financial Group lowered Grupo Mexico from a “strong-buy” rating 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 assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold”.

Grupo Mexico Trading Up 2.2%

The stock has a 50-day simple moving average of $9.68 and a 200 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.